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Daily market update: July 5, 2016

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CoreLogic’s Home Price Insight Report for May 2016:

  • Home prices rose 1.3 percent month-over-month in May 2016.
  • Year-over-year, home prices were up 5.9 percent.
  • Sales are forecasted to rise 0.8 percent month-over-month in June 2016 and 5.3 percent year-over-year in May 2017.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Freddie Mac’s Primary Mortgage Market Survey:

  • Average fixed mortgage rates dropped to 3.48 percent.
  • This is 17 basis points from the November 2012 all-time record low: 3.31 percent.
  • Last week, average 30-year fixed-rate mortgages were 3.56 percent.

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Ten-X Residential Real Estate Nowcast for June 2016:

  • Existing home sales will fall between seasonally adjusted annual rates of 5.38 and 5.74 million, with a targeted number of 5.56 million.
  • This is a slight 0.5 percent increase from May.
  • It also indicates a 1.4 percent year-over-year gain.

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Email market reports to press@inman.com.