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- Mortgage applications for new home purchases decreased by 0.2 percent month-over-month.
- The three-month average loan size was $326,480 in June.
- Year-over-year, June new home purchases were up 7 percent.
- 30-year fixed-rate mortgages (FRM) averaged 3.42 percent with an average 0.5 point for the week ending July 14, 2016.
- This is up from last week when it averaged 3.41 percent.
- A year ago at this time, the 30-year FRM averaged 4.09 percent.
- Sales were up 0.7 percent year-over-year and 9.4 percent month-over-month.
- The median sales price was $229,900 — 2.2 percent higher year-over-year.
- The number of homes for sale in June fell 15.6 percent year-over-year.
Home equity rates:
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- Mortgage applications increased 7.2 percent from one week earlier.
- The refinance share of mortgage activity increased to 64.0 percent of total applications from 61.6 percent one week earlier.
- FHA loan applications increased to 10.0 percent of all loans from 9.5 percent one week earlier.
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