Markets & Economy

Daily market update: August 8, 2016

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Fannie Mae’s Home Purchase Sentiment Index (HPSI) for July 2016:

  • The HPSI increased 3.3 points to 86.5 in July, reaching a new all-time survey high.
  • Each of the six HPSI components increased in July.
  • The largest increases were seen in the net share of consumers who expect home prices to go up over the next 12 months, which rose 8 percentage points after a drop in June, and the net share of consumers who expect mortgage interest rates to go down over the next 12 months, which rose 5 percentage points.

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August 2016 Preliminary Money Anxiety Index:

  • The preliminary August Money Anxiety Index stands at 59.8.
  • This is the same level it was prior to the beginning of the Great Recession in November of 2007.
  • The Great Recession was officially declared a month later in December 2007, when the Money Anxiety Index started climbing up and back down.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

U.S. Census Bureau’s June 2016 Construction Spending:

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  • Construction spending was at a seasonally adjusted annual rate of $1,133.5 billion ($1.13 trillion) in June 2016.
  • This is 0.3 percent above the June 2015 estimate (1,130.5 billion).
  • Over the first six months of the year, construction spending has been 6.2 percent above the same period in 2015.

Black Knight Mortgage Monitor for June 2016:

  • Delinquencies were down 10 percent year-over-year in June.
  • Foreclosure starts rose by nearly 12 percent from May.
  • However, even with this monthly increase, Q2 overall saw historically low levels of foreclosure starts.

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