Daily market update: August 26, 2016

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

Campbell/Inside Mortgage Finance Housing Pulse Tracking Survey:

  • The sales-to-list price ratio on non-distressed properties was 98.3 percent in July 2016, based on a three-month moving average.
  • The average price of non-distressed properties sold in July was $300,900, up 3.7 percent compared with July 2015. 
  • Non-distressed properties sold during July received an average of 2.3 offers, and the average time on market for non-distressed properties sold during the month was 6.8 weeks.

First American Real House Price Index (RHPI) for June 2016:

  • The RHPI decreased slightly in June 2016, falling 0.2 percent compared to May 2016 and -0.1 percent compared to June 2015.
  • House prices have changed by a negative 38.5 percent since their pre-recession peak.
  • Real house prices are 17.3 percent lower than they were in 2000.

Mortgage rates:

[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

 

Home equity rates:

[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

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

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