We’ll add more market news briefs throughout the day. Check back to read the latest.
- Mortgage applications decreased 11.2 percent from one week earlier.
- The Refinance Index decreased 15 percent week-over-week.
- The seasonally adjusted Purchase Index decreased 3 percent week-over-week to its lowest level since February 2016.
- Interest rates on conventional mortgages were little changed from May 2016 to June 2016.
- The average interest rate on all mortgage loans was 3.70 percent.
- The average loan amount was $333,900 in June, up $4,400 from May.
- The national MiMi value stands at 85.
- This is up 1.05 percent month-over-month and 2.39 percent quarter-over-quarter.
- Year-over-year, the MiMi is up 7.30 percent.
Home equity rates:
Most recent market news:
Ready player one: how the new hybrid virtual brokerage can help you compete
Brick and mortar brokerages can add virtual capabilities with a hybrid business model READ MORE
- Sales of new single-family homes were at a seasonally adjusted annual rate of 592,000.
- That’s 3.5 percent higher than the May 2016 estimate (572,000) and 25.4 percent above the June 2015 estimate of 472,000.
- The median sales price of new homes sold in June 2016 was $306,700.
- June’s first-time foreclosure starts (those properties starting the foreclosure process for the first time) were at 69,300 — the lowest starts reported in 16 years.
- Total U.S. foreclosure sales are at 2.31 percent — a 13.54 percent month-over-month and a 20.65 percent year-over-year increase.
- The U.S. loan delinquency rate, which includes homes that are 30 or more days past due, but not in foreclosure, experienced a 1.33 percent month-over-month increase and a 10.03 percent year-over-year decrease from June 2015.
- May 2016 marks 49 consecutive months of positive home price gains.
- In May, the national home price index reported a 5 percent annual gain — growth that’s level with the yearly index gain recorded in April.
- Portland (12.5 percent) reported the highest year-over-year gains, followed by Seattle (10.7 percent) and Denver (9.5 percent).
Email market reports to email@example.com.