Daily market update: Aug. 27, 2015

Freddie Mac’s primary mortgage market survey:

• 30-year fixed-rate mortgages averaged 3.84 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.93 percent last week.
• 15-year fixed-rate mortgages averaged 3.06 percent with an average 0.6 point for the week ending Aug. 27, 2015, down from 3.15 percent last week.
• Five-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.9 percent with an average 0.4 point for the week ending Aug. 27, 2015, down from 2.94 percent last week.

NAR’s pending home sales index:

• The index value for pending home sales was 110.948, which represents a 0.5 percent increase month over month.
• Last month’s index was up from the 110.369 index value in June.
• The pending home sale index peaked at 112.3 in May 2015.

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

Yesterday’s market news:

Freddie Mac’s Multi-Indicator Market Index (MiMi):

• The national MiMi shows an improvement of 1.3 percent from May to June and a three-month improvement of approximately 2.3 percent.
• Year over year, the national MiMi value has improved by 5.4 percent.
• It is still off from its high of 121.7 at the current index of 80.3.

The top markets for real estate agents, according to SmartAsset:

• Smaller markets account for the majority of top markets for real estate agents.
• One of the last recovery markets, Las Vegas appears to be on the rebound.
• Only five primary markets — Denver, Las Vegas, Nashville, Sacramento and Charlotte — were in the top 20.

Trulia’s fastest-moving markets report:

• Competition in hot markets may be slowing down, according to a recent Trulia research report.
• Nationally, 63 percent of homes listed for sale on June 17 were still on the market on Aug. 17, which is up a bit from 61 percent for the same period last year.
• California continues to reign as the state with the fastest-moving markets.

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