Daily market update: Aug. 18, 2015

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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