Daily market update: August 10, 2016

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We’ll add more market news briefs throughout the day. Check back to read the latest.

National Association of Realtors’ Metropolitan Median Area Prices and Affordability for Q2 2016:

  • 148 out of the 178 metropolitan statistical areas (MSAs) measured — a total of 83 percent — experienced median home price growth year-over-year, down slightly from the 87 percent of markets that had increases in the first quarter.
  • 25 MSAs had double-digit year-over-year median home price gains, a small decrease from the first quarter’s 28 metro areas.
  • Until this quarter, the peak existing single-family home price was $229,400, recorded in Q2 of last year. However, Q2 2016 surpassed that number by 4.9 percent, registering a median single-family home price of $240,700.

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Mortgage Bankers Association’s weekly mortgage applications data:

  • Mortgage applications increased 7.1 percent from one week earlier.
  • The Refinance Index increased 10 percent week-over-week.
  • The seasonally adjusted Purchase Index increased 3 percent week-over-week.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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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