Markets & Economy

Real estate market recap, July 5-8, 2016

The big news in real estate markets, recapped for your convenience

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Mortgage rates:

Home equity rates:

Thursday, July 7:

Freddie Mac’s Primary Mortgage Market Survey:

  • 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.

pmms_chart_lg (1)

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for June 2016:

  • 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.

hpsi-070716

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Wednesday, July 6:

Mortgage Bankers Association’s Weekly Applications Survey:

  • 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:

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.

report_highlights_hpi_2016_05_may

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