We’ll add more market news briefs throughout the day. Check back to read the latest.
- Home values assigned by appraisers were 1.93 percent lower than what homeowners estimated in June.
- In May, appraised values were 1.89 percent lower than expected.
- The average home appraisal increased 0.84 percent since May and enjoyed a 4.47 percent boost since June 2015.
Home equity rates:
Most recent market news:
- 38 million borrowers now have at least 20 percent equity in their homes, at an average of $116,000 per borrower
- 2.8 million borrowers remain in negative equity, down 13 percent from last year; nearly five times as many as in 2004
- Cash-out refinances made up 42 percent of all refinance transactions in Q1 2016; $20 billion in equity extracted
Millennial homebuyers are coming: they’re just five years behind
What to know about — and how to cater to — the shifting priorities of this emerging affluent demographic READ MORE
- Mortgage credit availability decreased to 119.8 in June 2016.
- This is a 1.3 percent decline in credit availability, indicating that credit is tighter.
- Of the four component indices, the Conventional MCAI saw the greatest tightening (down 2.4 percent) over the month followed by the Conforming MCAI (down 1.8 percent), the Jumbo MCAI (down 0.9 percent), and the Government MCAI (down 0.3 percent).
Email market reports to email@example.com.