Real estate market recap, July 25-29, 2016

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Mortgage rates:

Home equity rates:



Friday, July 29

First American June 2016 Loan Application Defect Index:

  • The index decreased 1.4 percent in June from May.
  • Year-over-year, the index decreased 12.2 percent.
  • At the high point of risk in October 2013, the index measured 29.4 percent.

Wednesday, July 27

Mortgage Bankers Association’s weekly applications survey:

  • 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.

Federal Housing Finance Agency’s mortgage rate indices for June 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.

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Freddie Mac’s Multi-Indicator Market Index (MiMi):

  • 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.

Tuesday, July 26:

U.S. Census and Department of Housing and Urban Development’s New Residential Sales for June 2016:

  • 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.

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Black Knight Financial Services’ “First Look” at June 2016 mortgage data:

  • 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.

Screen Shot 2016-07-26 at 11.51.57 AMS&P/Case-Shiller Home Price Index for May 2016:

  • 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).

Monday, July 25:

First American’s Real House Price Index (RHPI) for May 2016:

  • Real house prices are 19 percent lower than they were in 2000.
  • The RHPI was unchanged in May 2016 from April 2016.
  • The RHPI increased 0.4 percent from May 2015 to May 2016.

Black Knight Financial Services’ May 2016 Home Price Index:

  • The home price index in May was $263,000, up 31.7 percent from market bottom and 1.8 percent below the June 2006 peak.
  • Mountain states accounted for eight of 10 top-performing metro areas.
  • All states and metros experienced positive price movement in May, and six large states and 15 large metros hit new price peaks.

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