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

National Association of Home Builders’ Builder Confidence Index:

  • The index jumped to its highest point since October 2015, rising six points to 65.
  • This is up from a downwardly revised August reading of 59.
  • The index measuring traffic of prospective buyers posted a four-point gain to 48.

Re/Max National Housing News Report for August 2016:

  • Home sales increased 5.8 percent year-over-year in August 2016.
  • The median home price was up 5.1 percent year-over-year to $225,900.
  • Inventory in August averaged 3.4 months’ supply — 6 months is considered a balanced market.

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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:

Mortgage Bankers Association’s Builder Applications Survey for August 2016:

  • Mortgage applications for new home purchases increased by 5 percent month-over-month.
  • Applications were up 14 percent year-over-year.
  • The average loan size of new homes decreased from $325,843 in July to $325,224 in August.

CoreLogic Home Equity Report for Q2 2016:

  • In Q2 2016, 7.1 percent of mortgaged homes had negative equity.
  • This is an 8.9 percent decrease from the previous quarter.
  • Negative equity value decreased $30.0 billion quarter-over-quarter.

 

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Freddie Mac Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) reached its highest level since June in the week ending September 15, 2016.
  • The 30-year FRM averaged 3.50 percent with an average 0.5 point.
  • This is up from last weeks’ 3.44 percent. Last year this time, the 30-year FRM averaged 3.91 percent.

pmms_chart_lg

Email market reports to press@inman.com.

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