Inman

Real estate market recap, April 3-7, 2017

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Check Inman every day for the daily version of this market roundup.

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”]

Day-by-day market activity

Thursday, April 6

Mortgage Bankers Association’s Mortgage Credit Availability Index

“Credit availability increased in March driven by increased availability of Jumbo loan programs and Government loan programs,” said Lynn Fisher, MBA’s Vice President of Research and Economics in a statement. “Led by a wave of adjustable rate Jumbo offerings, the Jumbo MCAI surged in March, more than offsetting its 4.4 percent decline in February, which was the first tightening of the that component index in 11 months.

“Increases observed in the Government MCAI were driven by increased availability of FHA’s Streamline Refinance and 203 K home rehabilitation loan programs.”

Freddie Mac Primary Mortgage Survey 

Wednesday, April 5

ADP National Employment Report March 2017

Private-sector employment increased by 263,000 from February to March, on a seasonally adjusted basis.

Attom Data Solutions: 2016 property tax analysis

Tuesday, April 4

CoreLogic U.S. Home Price Report

“Home prices and rents have risen the most in local markets with high demand and limited supply, such as Seattle, Portland and Denver,” said Dr. Frank Nothaft, chief economist for CoreLogic, in a statement. “The rise in housing costs has been largest for lower-tier-priced homes. For example, from December to February in Seattle, the CoreLogic Home Price Index rose 12 percent and our single-family rent index rose 6 percent for all price tiers compared with the same period a year earlier. However, when looking at only lower-cost homes in Seattle, the price increase was 13 percent and the rent increase was 7 percent.”

Zillow Mortgage Rate Ticker

The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.84 percent, down 6 percentage points from this time last week. The 30-year fixed mortgage rate hovered between 3.94 percent and 3.88 percent for most of the week before falling to the current rate.

“Mortgage rates trended lower last week, ending almost 10 basis points lower and touching their lowest levels since mid-February,” said Erin Lantz, vice president of mortgages at Zillow, in a statement. “Friday’s jobs report and the publication on Wednesday of minutes from the March FOMC meeting, which will include new details about the Fed Governors’ economic forecasts, could move rates this week.”

Yardi Matrix Market Report

“We maintain the forecast of a 3 percent increase in rents for the year. The economic climate may influence market projections,” according to Jeff Adler, vice president, Yardi Matrix, in a statement.

Monday, April 3

Black Knight’s February Mortgage Monitor

Email market news to press@inman.com.