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- 268,000 residential properties regained equity in Q1 2016.
- The aggregate value of homes in negative equity was $299.5 billion.
- 8.0 percent of mortgaged homes were in negative equity.
- The 30-year fixed-rate mortgage (FRM) rate fell to 3.6 percent from 3.66 percent.
- A year ago, the 30-year FRM was 4.04 percent.
Home equity rates:
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- Mortgage applications increased 9.3 percent week-over-week.
- The refinance share of mortgage activity decreased to 53.8 percent of total applications from 54.3 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.83 percent from 3.85 percent, with points decreasing to 0.33 from 0.36 (including the origination fee).
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