We’ll add more market news briefs throughout the day. Check back to read the latest.
Ten-X Real Estate “Nowcast” for February 2016:
- Existing home sales for February will fall between a seasonally adjusted annual rate of 5.23 and 5.58 million sales.
- This sales number is down 1.3 percent month-over-month.
- However, it is up 10.4 percent year-over-year.
Mortgage Bankers Association’s Weekly Applications Survey:
- The Market Composite Index, which measures loan application volume, decreased 4.8 percent on a seasonally adjusted basis week-over-week.
- On an unadjusted basis, the Index increased 7 percent week-over-week.
- The Refinance Index decreased 7 percent week-over-week, and the refinance share of mortgage activity decreased to its lowest level since January 2016 — 58.6 percent of total applications — from 61.0 percent the previous week.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Yesterday’s most recent market news:
U.S. Census Bureau’s January 2016 Construction Spending:
- Spending on private construction was at a seasonally adjusted rate of $831.4 billion.
- This is 0.5 percent above the revised December estimate of $827.3 billion.
- Residential construction was $433.2 billion in January, the same month-over-month as December.
CoreLogic’s January 2016 Home Price Insights Report:
- Home prices rose 1.3 percent month-over-month.
- Home prices rose 6.9 percent year-over-year.
- This is the 47th month of consecutive year-over-year increase, but the returns are no longer double-digit.
Email market reports to press@inman.com.
