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Daily market update: June 21, 2016

06/21/2016

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

May 2016 First-Time Buyer Mortgage Share/Mortgage Risk Indices from the International Center on Housing Risk:

First-time buyer volume increased 15 percent year-over-year. First-time buyers accounted for 59.1 percent of primary owner-occupied home purchase mortgages with a government guarantee. The combined first-time buyer mortgage share index was 53.2 percent, up from 52.9 percent in May 2015.

first-time-buyer-share

 

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:

U.S. Census Bureau/U.S. Department of Housing and Urban Development May 2016 New Residential Construction:

Privately-owned housing units authorized by building permits in May were at a seasonally adjusted annual rate of 1,138,000. This is 0.7 percent above the revised April rate of 1,130,000, but is 10.1 percent below the May 2015 estimate of 1,266,000. Privately-owned housing starts in May were at a seasonally adjusted annual rate of 1,164,000. This is 0.3 percent below the revised April estimate of 1,167,000, but is 9.5 percent  above the May 2015 rate of 1,063,000. Privately-owned housing completions in May were at a seasonally adjusted annual rate of 988,000. This is 5.1 percent above the revised April estimate of 940,000, but is 3.5 percent below the May 2015 rate of 1,024,000.

Trulia’s outlook for housing starts for May 2016:

The 12-month rolling total of starts grew 11.8 percent year-over-year in May to 1,154,800 starts, slightly up from April. This represents the most starts in a 12-month period since August 2007. Housing starts continue to be a bright spot in an otherwise supply constrained market, and the 12-month rolling total inches up to 80 percent of the 50-year average of 1,443,060 starts.

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