Here’s the latest market news, summarized and recapped:
Monday’s daily mortgage averages:
- 30-year fixed: 4.00 percent
- Friday: 3.90 percent
- 15-year fixed: 3.03 percent
- Friday: 3.03 percent
- 1-year adjustable-rate: 2.62 percent
- Friday: 2.62 percent
Trulia’s analysis of U.S. Census Bureau new home construction statistics:
- New home starts fell slightly in July from June, but they were still 10.1 percent higher than in July 2014.
- At 1.2 million, new home starts are still at historically low levels.
- Permits posted also showed a monthly decline of 6.3 percent but a year-over-year growth of 7.5 percent.
Re/Max’s monthly housing report for July 2015:
- Completed transactions in July 2015 were 3.2 percent lower than June 2015 but 11.3 percent higher than sales in July 2014.
- Home prices have risen for 42 consecutive months, year-over-year.
- Median price for homes sold in July was $215,000, and inventory was down 1.0 percent from June 2015.
From yesterday:
Friday’s daily mortgage averages:
- 30-year fixed: 3.90 percent
- Thursday: 3.99 percent
- 15-year fixed: 3.03 percent
- Thursday: 3.02 percent
- 1-year adjustable-rate: 2.62 percent
- Thursday: 2.64 percent
Zillow’s first-time homebuyer survey:
- Americans rent for an average of six years before they purchase their first homes.
- Americans are also buying increasingly expensive first homes.
- First-time buyers are older and less likely to be married than in the past.
BuildFax’s new residential and remodeling permit activity report:
- Both new residential construction and remodeling activity — measured by building permits pulled — were down nationally in July when compared to June.
- Year over year, new residential permit activity is up 3 percent, and remodeling has declined by 6 percent.
We’ll add more market news briefs throughout the day. Check back to read the latest.
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