Daily market update: July 21, 2016

LIVE NOW: Inman Connect San Francisco
Tune-in now to catch the livestream. Don't miss this chance to see real estate leaders tackle the industry's top problems.

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.


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.


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 press@inman.com.