We’ll add more market news briefs throughout the day. Check back to read the latest.
Fannie Mae’s Q1 2016 Mortgage Lender Sentiment Survey:
- Lenders reported that purchase demand decreased significantly during the past three months.
- Refinance mortgage demand was expected to increase significantly in the next quarter.
- On net, lenders reported tightening of credit standards for government loans for the first time since Q3 2014.
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:
- Sales of new single-family homes were at a seasonally adjusted annual rate of 512,000.
- This is 2.0 percent higher than January but 6.1 percent below the February 2015 estimate.
- The median sales price of new homes sold in February 2016 was $301,400; the average sales price was $348,900.
Black Knight Financial Services’ First Look at February 2016 mortgage data:
- The total U.S. loan delinquency rate was 4.45 percent, down 12.57 percent month-over-month and 15.93 percent year-over-year.
- The total foreclosure pre-sale inventory rate was 1.30 percent, down 0.64 percent month-over-month and 24.59 percent year-over-year.
- The total foreclosure starts were 84,300, up 17.25 percent month-over-month and 9.20 percent year-over-year.
Mortgage Bankers Association’s Weekly Applications Survey:
- Mortgage applications decreased 3.3 percent week-over-week on a seasonally adjusted basis.
- The refinance share of mortgage activity decreased to 53.9 percent of total applications from 55.0 percent the previous week.
- The average contract interest rate for a 30-year fixed-rate mortgage with conforming loan balances decreased to 3.93 percent from 3.94 percent the previous week.
Email market reports to press@inman.com.
