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- 30-year fixed-rate mortgages (FRMs) averaged 3.56 percent with an average 0.6 point for the week ending June 23, 2016.
- This is up from last week when it averaged 3.54 percent.
- A year ago at this time, the 30-year FRM averaged 4.02 percent.
- Sales of new single-family houses in May 2016 were at a seasonally adjusted annual rate of 551,000.
- This is 6.0 percent below the revised April rate of 586,000, but is 8.7 percent above the May 2015 estimate of 507,000.
- The median sales price of new houses sold in May 2016 was $290,400; the average sales price was $358,900.
- The seasonally adjusted estimate of new houses for sale at the end of May was 244,000. This represents a supply of 5.3 months at the current sales rate.
- Active loans with interest rates higher than 4.50 percent comprised 38 percent of all loans in February 2016.
- Completed foreclosures were down 15.8 percent year-over-year in April 2016.
- Home prices were up 6.2 percent year-over-year in April 2016.
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- 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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