Daily market update: July 5, 2016

We’ll add more market news briefs throughout the day. Check back to read the latest.

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.

Mortgage rates:

[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

Home equity rates:

[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

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.

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.

Email market reports to press@inman.com.