Check Inman every day for the daily version of this market roundup.
Home equity rates:
Thursday, June 9:
- 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.
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Wednesday, June 8:
- 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).
Tuesday, June 7:
- Home prices nationwide increased 6.2 percent year-over-year in April 2016.
- Prices increased 1.8 percent month-over-month.
- The CoreLogic HPI Forecast indicates that home prices will increase by 5.3 percent on a year-over-year basis from April 2016 to April 2017, and 0.9 percent month-over-month.
- The HPSI increased 1.6 points to 85.3 in May.
- This is a new all-time survey high.
- The net share of consumers who expect that home prices will go up over the next 12 months rose 5 percentage points, followed by a 3 percentage point increase in the net share of consumers who expect mortgage interest rates to go down over the next 12 months.
Monday, June 6:
- April’s national delinquency rate was up 3.77 percent from March.
- The April delinquency rate was still more than 10 percent below the April 2015 level.
- At 58,700, April’s foreclosure starts were the lowest monthly volume since April 2005.
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