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- Total construction spending in July was estimated at a seasonally adjusted annual rate of $1.15 trillion.
- Residential construction was at a seasonally adjusted rate of $445.5 billion in July.
- This is 0.3 percent above the revised June estimate ($444.0 billion).
- Less than 65 percent of homeowners surveyed said now is a good time to buy.
- Just 38 percent of renters surveyed said now is a good time to buy a home.
- Out of every 10 homeowners surveyed, seven said now is a good time to sell a home.
- The rates for 30-year fixed-rate mortgages were an average 3.46 percent with an average 0.5 point for the week ending September 1, 2016.
- Last week, the rate averaged 3.43 percent.
- A year ago, the rate averaged 3.89 percent.
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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.
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