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Daily market update: February 28, 2017

02/27/2017

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We’ll add more market news briefs throughout the day. Check back to read the latest.

S&P CoreLogic Case-Shiller Home Price Index for December 2016:

The National Home Price Index increased 5.8 percent year-over-year in December 2016. This is the 56th consecutive month of positive gains and the largest since June 2014. December was also the sixth consecutive month in which the year-over-year figure increased over the previous month.

Federal Housing Finance Agency’s Mortgage Rate Report for January 2017:

The average interest rate on all mortgage loans was 4.17 percent. This is up 26 basis points from 3.91 in December. The average loan amount for all loans was $305,400 in January, down $13,700 from $319,100 in December.

Mortgage rates: 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio 15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio

 

Home equity rates: Average Home Equity Loan Bank Rates by State | Credio Average Home Equity Loan Credit Union Rates by State | Credio Most recent market news:

National Association of Realtors’ Pending Home Sales for January 2017:

The Pending Home Sales Index decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016. January’s index reading is 0.4 percent above last January, but it is the lowest since then. Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.2 percent from 2016 (5.45 million).

First American Real House Price Index for December 2016:

Real house prices increased 6.2 percent between November and December 2016. Compared to December 2015, real house prices increased by 8.0 percent. Consumer house-buying power, how much one can buy based on changes in income and interest rates, declined 5.1 percent between November and December 2016, and fell 2.1 percent year-over-year. Unadjusted house prices increased by 5.8 percent in December on a year-over-year basis and are 1.5 percent above the housing boom peak in 2007.

Ten-X/Auction.com Real Estate Nowcast for February 2017:

According to the nowcast, February sales will fall between seasonally adjusted annual rates of 5.34 million to 5.69 million, with a targeted number of 5.51 million. This is down 3 percent from NAR’s reported January sales yet up 7 percent from a year ago.

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