Check Inman every day for the daily version of this market roundup.
Home equity rates:
Thursday, July 7:
- The 30-year fixed-rate mortgage fell 7 basis points to 3.41 percent in this week’s survey.
- Mortgage rates have now dropped 15 basis points over the past two weeks.
- This means rates are only 10 basis points above the all-time low.
- The HPSI decreased 2.1 points to 83.2 in June. This is down from May’s all-time survey high.
- The share of consumers who said now is a good time to sell a home increased 5 percentage points on net to a survey-high of 18 percent.
- Those saying now is a good time to buy a home rose 3 percentage points on net to 32 percent.
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Wednesday, July 6:
- The Market Composite Index, a measure of mortgage loan application volume, increased 14.2 percent on a seasonally adjusted basis from one week earlier.
- The Refinance Index increased 21 percent from the previous week to the highest level since January 2015.
- The seasonally adjusted Purchase Index increased 4 percent from one week earlier.
Tuesday, July 5:
- 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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