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Black Knight Financial’s “First Look” at August 2015 mortgage data:
- The total loan delinquency rate in the U.S. was 4.85 percent, up 2.47 percent month-over-month but down 18.22 percent year-over-year.
- The total foreclosure pre-sale inventory rate was 1.37 percent, down 2.17 percent month-over-month and 23.74 percent year-over-year.
- The total foreclosure starts numbered 80,500, up 6.76 percent month-over-month but down 1.35 percent year-over-year.
Inside Mortgage Finance’s Housing Pulse survey:
- In August 2015, current homeowners accounted for 49.3 percent of purchases.
- The first-time homebuyer share in August was 36.4 percent of purchases. The investor share was 14.4 percent.
- The sales-to-list price ratio for non-distressed properties was 98.3 percent in August, a slight 0.2 percent decline from July.
Weekly mortgage rates:
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Yesterday’s market news:
RealtyTrac’s August 2015 U.S. Home Sales Report:
- Sales of single-family homes and condominiums in August hit an eight-year high nationally, and some cities are on pace to see their best sales numbers in a decade.
- Out of 204 metro areas surveyed, 58 are on track to reach nine-year highs in home sales this year, and another 22 cities are poised to reach 10-year highs.
- All-cash sales accounted for 24.5 percent of all single family home and condo sales in August, up from a seven-year low of 23.6 percent in July, but still down from 26.7 percent of all sales in August 2014.
ProTeck’s Home Value Forecast:
- San Francisco buyers have averaged 20+ percent down over the last 14 years (loan-to-value ratios 67 percent to 82 percent), while Detroit has averaged loan-to-value ratios between 86 percent and 101 percent.
- Scottsdale, Arizona, average home prices are 20 percent below all-time highs.
- At the height of the housing crisis in Apache Junction, Arizona, homes lost more than half their value.
- New single-family homes in August were sold at a seasonally adjusted annual rate of 552,000.
- This is 5.7 percent above the revised July rate and 21.6 percent above the August 2014 estimate.
- The median sales price for new homes in August 2015 was $292,700, and the average sales price was $353,400.
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