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- Total existing-home sales grew 1.8 percent to a seasonally adjusted annual rate of 5.53 million in May from a downwardly revised 5.43 million in April.
- Sales are now up 4.5 percent from May 2015 (5.29 million).
- Sales are at their highest annual pace since February 2007 (5.79 million).
- Home prices rose 0.2 percent month-over-month in April 2016.
- The March 0.7 percent increase was revised to 0.8 percent.
- Year-over-year, home prices were up 5.9 percent.
- The total U.S. loan delinquency rate (30 or more days past due, but not in foreclosure) was 4.25 percent in May 2016, up 0.36 percent month-over-month and down 13.47 percent year-over-year.
- The total foreclosure pre-sale inventory rate was 1.13 percent, 3.55 percent lower than April 2016 and 28.78 percent lower than May 2015.
- The total foreclosure starts were at 62,100, up 5.79 percent month-over-month and down 28.78 percent year-over-year.
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- Mortgage applications increased 2.9 percent week-over-week.
- The refinance index increased 7 percent week-over-week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased to its lowest level since May 2013, 3.76 percent, from 3.79 percent week-over-week.
Home equity rates:
Most recent market news:
- Title agent expectations for growth in purchase and refinance transactions across all property types in the year ahead are 17.3 percent more positive year-over-year.
- Quarter over quarter, title agents’ confidence in purchase market growth increased 12.9 percent and 23.2 percent for refinance transactions.
- Title agents are now predicting 4.0 percent real estate price growth over the next 12 months, a slight drop from the Q1 prediction of 4.6 percent annualized price growth.
- First-time buyer volume increased 15 percent year-over-year.
- First-time buyers accounted for 59.1 percent of primary owner-occupied home purchase mortgages with a government guarantee.
- The combined first-time buyer mortgage share index was 53.2 percent, up from 52.9 percent in May 2015.
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