We’ll add more market news briefs throughout the day. Check back to read the latest.
Mortgage rates:
Home equity rates:
Most recent market news:
Mortgage Bankers Association’s Builder Applications Survey for July 2016:
- Mortgage applications for new home purchases increased 2.4 percent year-over-year.
- Applications decreased by 8 percent month-over-month.
- The average loan size of new homes decreased from $326,175 in June to $325,843 in July.
Mortgage Bankers Association’s National Delinquency Survey:
- The delinquency rate for mortgage loans on one-to-four-unit residential properties decreased to 4.66 percent of all loans at the end of Q2 2016.
- The percentage of loans on which foreclosure actions were started during the second quarter was 0.32 percent, a decrease of three basis points from the previous quarter, and down eight basis points from one year ago.
- This foreclosure starts rate was at its lowest level since the second quarter of 2000.
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 3.45 percent with an average 0.5 point for the week ending August 11, 2016.
- This is up from last week when it averaged 3.43 percent.
- A year ago at this time, the 30-year FRM averaged 3.94 percent.
Why thought is the enemy of sales
Tom Ferry examines the sales skills that matter most READ MORE
Email market reports to press@inman.com.
Article image credited to AshDesign / Shutterstock.com
Comments
Related Articles
When you hear people in the real estate industry talk about which franchises are “taking over the world,” they usually don’t mean that phrase literally, but in the case of Keller Williams, it might just be appropriate.
Solar power is blazing-hot in a growing number of communities across the United States. And nowhere is it hotter than in sunny California. California is home to two out of five customer-owned solar systems in the U.S.
Luxury home prices inched up 0.8 percent in the second quarter of 2016 compared to last year, to an average of $1.66 million, according to a new analysis from Redfin. The quarterly analysis tracks luxury sales in more than 1,000 cities across the country and defines a home as luxury if it is among the top 5 percent of most expensive homes sold in each city.
Rents continue to rise throughout the nation, fueled by strong job growth, demand and the continued fall of homeownership, accoridng to real estate data and software firm Yardi. In the 119 markets covered by Yardi, the average apartment rent in the nation topped the June average by $4 to reach $1,217, according to the most recent Matrix Monthly report.