Markets & Economy

Daily market update: August 25, 2016

Don't miss the real estate event of the summer
Join 4,000 real estate pros at Connect SF, Aug 7‑11, 2017

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

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed rate mortgage averaged 3.43 percent with an average 0.6 point.
  • This is unchanged from last week’s rates.
  • A year ago, the 30-year fixed-rate mortgage averaged 3.84 percent.

pmms_chart_lg

Mortgage rates:

 

Home equity rates:

Most recent market news:

Federal Housing Finance Agency’s U.S. house prices for the second quarter of 2016:

  • House prices rose 1.2 percent quarter-over-quarter in the second quarter of 2016.
  • Year-over-year, prices rose 5.6 percent.
  • FHFA’s seasonally adjusted monthly index for June was up 0.2 percent from May.

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 2.1 percent week-over-week for the week ending August 19, 2016.
  • The average contract interest rate for 30-year fixed-rate mortgages increased to 3.67 percent from 3.64 percent.
  • The refinance share of mortgage activity decreased to 62.4 percent of total applications from 62.6 percent the previous week.

National Association of Realtors’ Existing-Home Sales for July 2016:

  • Total existing-home sales fell 3.2 percent to a seasonally adjusted annual rate of 5.39 million in July from 5.57 million in June.
  • The median existing-home price for all housing types was $244,100. This is up 5.3 percent from July 2015.
  • Total housing inventory at the end of July was 2.13 million existing available homes for sale, 5.8 percent lower than last year.

July EHS Infographic

Email market reports to press@inman.com.