Daily market update: July 21, 2016

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

CoreLogic’s MarketPulse Report for July 2016:

  • Mortgage rates were down 0.29 percent post-Brexit.
  • Completed foreclosures were down 6.9 percent year-over-year.
  • Home prices were up 5.9 percent year-over-year.

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NAR’s Existing-Home Sales for June 2016:

  • The share of first-time buyers purchasing homes in June 2016 was the highest recorded since July 2012: 33 percent.
  • Total existing-home sales were up 1.1 percent in June, to a seasonally adjusted annual rate (SAAR) of 5.57 million.
  • In May, the SAAR was 5.51 million. Last June, the SAAR was 5.41 million.

June EHS Infographic

Freddie Mac’s Primary Mortgage Market Survey:

  • 30-year fixed-rate mortgages (FRMs) averaged 3.45 percent with an average 0.5 point for the week ending July 21, 2016.
  • This is up from last week when it averaged 3.42 percent.
  • A year ago at this time, the 30-year FRM averaged 4.04 percent.

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Federal Housing Finance Agency’s House Price Index for May 2016:

  • U.S. house prices were up 0.2 percent on a seasonally adjusted basis month-over-month in May.
  • April’s increase was revised upward from 0.2 percent to 0.3 percent.
  • Year-over-year, May 2016 home prices were up 5.6 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.3 percent from one week earlier but was up 16 percent from one year ago.
  • The Refinance Index decreased 1 percent from the previous week.
  • The seasonally adjusted Purchase Index decreased 2 percent from one week earlier.

Ellie Mae’s Purchase Origination Insight Report for June 2016:

  • Purchases increased to 65 percent of all closed loans in June, up from 62 percent in May.
  • Refinances represented 34 percent of closed loans in June, down from 37 percent in May.
  • The average time to close all loans increased to 46 days in June, up from 45 days in May.

Email market reports to [email protected].