We’ll add more market news briefs throughout the day. Check back to read the latest.
Ten-X’s Residential Real Estate Nowcast for May 2016:
- May existing home sales will fall between seasonally adjusted annual rates of 5.47 and 5.83 million, with a targeted number of 5.65 million.
- This is a 3.7 percent increase from April 2016.
- It also represents a 6.2 percent year-over-year gain.
S&P/Case-Shiller Home Price Index for March 2016:
- The national index was at 176.91.
- This is up 0.72 percent month-over-month.
- In March 2015, the index was 168.24.
Black Knight Home Price Index for March 2016:
- The home price index in the United States was $257,000.
- This is up 1.2 percent from February 2016.
- It’s also up 5.3 percent from March 2015.
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”]
Last week’s most recent market news:
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.
Email market reports to press@inman.com.
