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- The index declined 2.4 percentage points to 108.5 in August from July.
- The index was 0.2 percent lower in August 2016 than August 2015 (108.7).
- The index is currently at its second-lowest reading in 2016, after January (105.4).
- September sales will fall between seasonally adjusted annual rates of 5.1 million and 5.44 million.
- This is down 1.2 percent from August.
- This is also down 5.1 percent from one year ago.
- The 30-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending September 29, 2016.
- This is down from last week, when it averaged 3.48 percent.
- One year ago, the 30-year FRM averaged 3.85 percent.
Home equity rates:
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- There was a 5.1 percent annual gain in July.
- This is higher than the June 2016 gain of 5.0 percent.
- The 20-City Composite reported year-over-year gains of 5.0 percent, down from June’s 5.1 percent.
- The home price index rose 6 percent year-over-year in July 2016.
- The share of homes with negative equity in Q2 2016 was 7.1 percent.
- The share of homes sold that were classified as “distressed” was 7.8 percent.
- Mortgage applications decreased 0.7 percent from one week earlier on a seasonally adjusted basis, and decreased 1 percent on an unadjusted basis.
- The refinance share of mortgage activity decreased to 62.7 percent of total applications from 63.1 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 3.66 percent from 3.70 percent, with points decreasing to 0.33 from 0.38.
- The national MiMi is at 85.1 percent, unchanged from June 2016.
- On a year-over-year basis, the July MiMi improved 4.70 percent.
- Since the October 2010 all-time low, the national MiMi has rebounded 43 percent.
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