Markets & Economy

Daily market update: August 26, 2016

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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:

 

Home equity rates:

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.

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Email market reports to press@inman.com.