Markets & Economy

Real estate market recap, June 6-10, 2016

The big news in real estate markets, recapped for your convenience

Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Thursday, June 9:

CoreLogic Home Equity Report for Q1 2016:

  • 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.

Screen Shot 2016-06-09 at 6.33.06 PM

Freddie Mac’s Primary Mortgage Market Rate:

  • 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.

freddie-mac-pmms

6 ways empowered agents embrace disruption to drive success
Using technology to generate leads and win listings READ MORE

Wednesday, June 8:

Mortgage Bankers Association’s Weekly Applications Survey:

  • 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:

CoreLogic Home Price Index for April 2016:

  • 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.

april-national-home-price-change-1-HR

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for May 2016:

  • 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.

hpsi-060716

Monday, June 6:

Black Knight Financial Services monthly mortgage performance data for April 2016:

  • 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.

Screen Shot 2016-06-06 at 7.45.37 AM

Email market news to press@inman.com.