Check Inman every day for the daily version of this market roundup.
Home equity rates:
Friday, July 22:
- Non-distressed properties sold in June were on the market for an average of 6.8 weeks.
- Non-distressed properties sold in June received an average of 2.3 offers.
- First-time buyers comprised 40.2 percent of purchases in June.
Thursday, July 21:
- Mortgage applications for new home purchases decreased by 0.2 percent month-over-month.
- The three-month average loan size was $326,480 in June.
- Year-over-year, June new home purchases were up 7 percent.
- 30-year fixed-rate mortgages (FRM) averaged 3.42 percent with an average 0.5 point for the week ending July 14, 2016.
- This is up from last week when it averaged 3.41 percent.
- A year ago at this time, the 30-year FRM averaged 4.09 percent.
- Sales were up 0.7 percent year-over-year and 9.4 percent month-over-month.
- The median sales price was $229,900 — 2.2 percent higher year-over-year.
- The number of homes for sale in June fell 15.6 percent year-over-year.
- Mortgage rates were down 0.29 percent post-Brexit.
- Completed foreclosures were down 6.9 percent year-over-year.
- Home prices were up 5.9 percent year-over-year.
- The share of first-time buyers purchasing homes in June 2016 was the highest recorded since July 2012: 33 percent.
- Total existing-home sales were up 1.1 percent in June, to a seasonally adjusted annual rate (SAAR) of 5.57 million.
- In May, the SAAR was 5.51 million. Last June, the SAAR was 5.41 million.
- 30-year fixed-rate mortgages (FRMs) averaged 3.45 percent with an average 0.5 point for the week ending July 21, 2016.
- This is up from last week when it averaged 3.42 percent.
- A year ago at this time, the 30-year FRM averaged 4.04 percent.
- U.S. house prices were up 0.2 percent on a seasonally adjusted basis month-over-month in May.
- April’s increase was revised upward from 0.2 percent to 0.3 percent.
- Year-over-year, May 2016 home prices were up 5.6 percent.
Wednesday, July 20:
- Mortgage applications decreased 1.3 percent from one week earlier but was up 16 percent from one year ago.
- The Refinance Index decreased 1 percent from the previous week.
- The seasonally adjusted Purchase Index decreased 2 percent from one week earlier.
- Purchases increased to 65 percent of all closed loans in June, up from 62 percent in May.
- Refinances represented 34 percent of closed loans in June, down from 37 percent in May.
- The average time to close all loans increased to 46 days in June, up from 45 days in May.
Tuesday, July 19:
- Privately-owned housing units authorized by building permits were at 1,153,000 in June, 1.5 percent above May 2016 but 13.6 percent below June 2015.
- Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000, 4.8 percent above May 2016 but is 2.0 percent below June 2015.
- Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,147,000, 12.3 percent above May 2016 and 18.7 percent above June 2015.
Email market news to email@example.com.
[related_posts_content limit="5" title="Related Posts"]