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- The index rose 1.3 percent to 111.3 in July from a downwardly revised 109.9 in June.
- This represents 1.4 percent growth year-over-year. (July 2015’s reading was 109.8.)
- All the major regions saw a slight increase in pending home sales, save the Midwest.
- The “Nowcast” projects existing home sales to stabilize in August.
- The “Nowcast” predicts existing home sales to fall between seasonally adjusted annual rates of 5.35 and 5.71 million.
- This is a 2.5 percent increase from July and a 4.1 year-over-year increase.
- The First American Loan Application Defect Index decreased 2.8 percent in July as compared with June.
- The index decreased 16.7 percent as compared with July 2015.
- The index is down 31.4 percent from the high point of risk in October 2013.
- This month, the MiMi was 85.0.
- This is up 0.08 percent month-over-month.
- Year-over-year, the MiMi is up 5.76 percent.
Home equity rates:
Most recent market news:
- The home price index rose by 5.1 percent from June 2015 to June 2016.
- This year-over-year price gain is unchanged from last month.
- Month-over-month, the index rose 1.0 percent (unadjusted).
- The national average contract mortgage rate for previously occupied homes by combined lenders was 3.62 percent for loans closed in late July.
- The average interest rate on all mortgage loans was 3.63 percent.
- The average loan amount was $325,700, down from $333,900 in June.
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