Daily market update: Aug. 31, 2015

Homes.com’s June 2015 Local Market Index:

• 47 percent (142 of 300 markets) achieved full pricing recovery, which is three more than what was reported in May.
• In June, 99 out of 100 markets increased their three-month averages, but for the first time in six months one market saw a decline for the metric.
• The West dominated in annual gains with all 10 markets showing improvements; the South dominated in recovery; and the Midwest came in second for recovery.

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

Last week’s market news:

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, down from 3.93 percent the week before.
• 15-year fixed-rate mortgages averaged 3.06 percent with an average 0.6 point for the week ending Aug. 27, down from 3.15 percent one week earlier.
• 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 the previous 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.

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