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- Sales of new single-family houses were at a seasonally adjusted rate of 609,000.
- This is 7.6 percent below the revised July rate of 659,000 but 20.6 percent above the August 2015 estimate: 505,000.
- The median sales price of new houses sold in August 2016 was $284,000; the average sales price was $353,600.
First American’s Real House Price Index (RHPI) for July 2016:
- The RHPI decreased 2.1 percent month-over-month in July 2016.
- This is also a 4.8 percent decrease from July 2015.
- The four states with the highest year-over-year increases in the RHPI are: Wyoming (+2.5 percent), Michigan (+1.4 percent), Oregon (+0.3 percent) and Nevada (+0.1 percent).
Black Knight Financial Services July 2016 Home Price Index:
- The HPI in July 2016 was $266,000.
- This represents a 0.4 percent increase from last month.
- One year ago, the HPI was 5.3 percent.
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:
Ellie Mae’s Origination Insights Report for August 2016:
- Closing time for all loans remained 46 days for the third consecutive month, and the time to close refis dropped to 46 days in August.
- The average 30-year rate for all loans decreased from 3.87 in July to 3.77 in August.
- 13 percent of closed purchase loans had FICO scores over 800 and 58 percent of closed loans had FICO scores of 700 to 799.
Email market reports to press@inman.com.
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