Real estate daily market update: April 3, 2018

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

Most recent market news

Tuesday, April 3

CoreLogic Home Price Index (HPI) and HPI Forecast, February 2018

  • In February, home prices in all 50 states increased in value year-over-year
  • Washington state experienced the strongest gains at 12.5 percent
  • Home prices projected to increase by 4.7 percent by February 2019

“Family income is rising more slowly than home prices and mortgage rates, meaning that the mortgage payment takes a bigger bite out of income for new homebuyers,” CoreLogic President and Chief Executive Frank Martell said in a release.

“CoreLogic’s Market Conditions Indicator has identified nearly one-half of the 50 largest metropolitan areas as overvalued. Often buyers are lulled into thinking these high-priced markets will continue, but we find that overvalued markets will tend to have a slowdown in price growth.”

Read more here.

Monday, April 2

Bankrate mortgage rates

  • The average 30-year fixed-mortgage rate is 4.27 percent, down 6 basis points from a week ago. A month ago, the average rate on a 30-year fixed mortgage was higher, at 4.30 percent.
  • The average 15-year fixed-mortgage rate is 3.69 percent, down 6 basis points over the last week.

Source: Bankrate

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