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National Association of Realtors’ Pending Home Sales Index for March 2016:
- The Pending Home Sales Index was up 1.4 percent to 110.5 in March from 109.0 in February.
- The index is now 1.4 percent above March 2015 (109.0).
- After last month’s slight gain, the index has increased year-over-year for 19 consecutive months and is at its highest reading since May 2015 (111.0).
Freddie Mac’s Primary Mortgage Market Survey:
- The average rate for a 30-year fixed-rate mortgage was 3.64 percent with an average 0.5 point for the week ending May 26, 2016.
- This is up from last week when it averaged 3.58 percent.
- A year ago at this time, the 30-year FRM averaged 3.87 percent.
Federal Housing Finance Agency’s April 2016 mortgage rate index:
- The average interest rate on all mortgage loans was 3.75 percent, down 1 basis point from 3.76 in March.
- The average interest rate on conventional, 30-year, fixed-rate mortgages of $417,000 or less was 3.94 percent, down 1 basis point from 3.95 in March.
- The average loan amount for all loans was $322,400 in April, down $2,600 from $325,000 in March.
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:
First American Real House Price Index (RHPI) for March 2016:
- The RHPI was unchanged in March 2016 from February 2016.
- The RHPI decreased 2.1 percent year-over-year.
- The five states with the highest year-over-year increase in the RHPI are North Dakota (16.0 percent), Wyoming (14.7 percent), Rhode Island (12.2 percent), Delaware (6.0 percent) and Missouri (5.6 percent).
Freddie Mac’s Multi-Indicator Market Index (MiMi) for March 2016:
- The MiMi is at 83.8, up 1.00 percent month-over-month.
- The quarterly MiMi is up 1.56 percent.
- Year-over-year, the MiMi is up 7.23 percent.
Mortgage Bankers Association’s weekly applications survey:
- Mortgage applications increased 2.3 percent from one week earlier (adjusted).
- The refinance share of mortgage activity decreased to 53.7 percent of applications from 54.6 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.85 percent from 3.82 percent.
Federal Housing Finance Agency’s Home Price Report for March 2016/Q1 2016:
- Home prices rose in every state between the first quarter of 2015 and the first quarter of 2016.
- The top five states in annual appreciation were Oregon (11.8 percent), Florida (11.2 percent), Washington (10.9 percent), Nevada (9.4 percent) and Colorado (9.0 percent.)
- Annual price increases were greatest in the metro area of West Palm Beach-Boca Raton-Delray Beach, Florida, where prices increased by 16.7 percent. Prices were weakest in El Paso, Texas, where they fell 2.8 percent.
Email market reports to press@inman.com.