Markets & Economy

Daily market update: August 9, 2016

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Quicken Loans’ Home Price Perception Index/Home Value Index (HPPI/HVI) for July 2016:

  • Appraised values were an average of 1.69 percent less than what homeowners estimated in July.
  • In June, appraiser opinions were 1.93 percent lower than homeowner expectations.
  • Home values rose 1.43 percent from June to July and 6.24 percent from July 2015 to July 2016.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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

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  • 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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Email market reports to press@inman.com.