Real estate daily market update: April 3, 2018

Need to build a stronger brand?
Just a few seats left for ICSF Indie Broker Summit, July 17

 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

Email Inman