Please wait as we prepare your PDF file ....

Mission Chronicle Blog

Search Blog

our goal is to help you stay informed by providing timely and interesting articles.

Daily market update: May 19, 2017

05/19/2017

Download PDF

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

Most recent market news

Thursday, May 18

Freddie Mac’s Primary Mortgage Market Survey

30-year fixed-rate mortgage (FRM) averaged 4.02 percent with an average 0.5 point for the week ending May 18, 2017, down from last week when it averaged 4.05 percent. A year ago at this time, the 30-year FRM averaged 3.58 percent. 15-year FRM this week averaged 3.27 percent with an average 0.5 point, down from last week when it averaged 3.29 percent. A year ago at this time, the 15-year FRM averaged 2.81 percent. 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 3.13 percent this week with an average 0.5 point, down from last week when it averaged 3.14 percent. A year ago at this time, the 5-year ARM averaged 2.80 percent.

“The 30-year mortgage rate fell 3 basis points this week to 4.02 percent,” said Sean Becketti, chief economist at Freddie Mac, in a statement. “However, this week’s survey closed prior to Wednesday’s flight to quality. The delayed impact of the associated decline in Treasury yields may push mortgage rates lower in next week’s survey.”

Mortgage rates: 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio News from earlier this week

Tuesday May 16

Zillow Mortgage Rate Ticker

The 30-year fixed mortgage rate on Zillow Mortgages is currently 3.80 percent, down four basis points from this time last week. The 30-year fixed mortgage rate inched higher last week before falling near current levels on Friday.

“Mortgage rates climbed to their highest levels since late March before dropping on the heels of weak inflation and retail sales data, which could push the Fed to delay expected rate hikes in the months ahead,” said Erin Lantz, vice president of mortgages at Zillow, in a statement. “Financial markets should be mostly quiet this week, with no major economic data scheduled for release.”

May 2017 Re/Max National Housing Report

The average number of Days on Market declined for the third consecutive month and April’s 57 days set a new low for April in the report’s nine-year history. The Median Sales Price of $226,000 was the highest price for any April and marked the 13th consecutive month of year-over-year price increases. Months Supply of Inventory, which dropped below 3 months in March for the first time in the report’s history, was 2.8. A months supply of less than 6.0 is considered a seller’s market. Inventory was down 17.6 percent from April 2016. This is the 102nd consecutive month of year-over-year declines dating back to October 2008.

Monday, May 15

NAHB (National Association of Home Builders) Housing Market Index

Builder confidence in the market for newly-built single-family homes rose two points in May to a level of 70 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI). This is the second highest HMI reading since the downturn.

“This report shows that builders’ optimism in the housing market is solidifying, even as they deal with higher building material costs and shortages of lots and labor,” said NAHB Chairman Granger MacDonald, a home builder and developer from Kerrville, Texas, in a news release.

“The HMI measure of future sales conditions reached its highest level since June 2005, a sign of growing consumer confidence in the new home market,” added NAHB Chief Economist Robert Dietz in the release. “Especially as existing home inventory remains tight, we can expect increased demand for new construction moving forward.”

Email market reports to press@inman.com.

Source: click here

Read More

INSPIRED, INTELLIGENT, INSIGHTFULL

STAY INFORMED WITH TIMELY AND INTERESTING ARTICLES FROM OUR BLOG, MISSION CHRONICLE. OUR ASPIRATION IS TO PROVIDE REALTORS AND OTHER REAL ESTATE INDUSTRY PROFESSIONALS WITH EXCEPTIONAL RESOURCES AND SHARE OUR KNOWLEDGE TO PROPEL YOU TO YOUR GOALS.

  • The 8 mistakes to avoid when designing a virtual home tour

    Now more than ever, virtual home tours are an invaluable asset for agents looking to educate and ins...

  • Real Grader helps keep agents’ online reputation on track

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • ClosingLock aims to lock down wire fraud

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • The top 3 priorities buyers place alongside location

    The past year has brought unparalleled attention to luxury properties in suburban and vacation marke...

  • CoreLogic launches consumer search with OneHome

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • What you need to know about 2020’s accelerated luxury market

    It’s safe to say that this year has not been the one we expected. In March, it was anybody’s gue...

  • Up your social media look with Feed Appeal

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • From video to VR: why VR home tours are a must-have

    This has been a year of challenges and transformation for all industries, and the luxury real estate...

  • ReferMe IQ uses old business to earn you new business

    Have suggestions for products that you’d like to see reviewed by our real estate technology ex...

  • How urban buyers are creating space and redefining how they live

    We’ve all experienced the shift this year: luxury buyers opting for spacious homes in the suburbs ...

December 2020
Mon Tue Wed Thu Fri Sat Sun
 123456
78910111213
14151617181920
21222324252627
28293031  

  • Polls

    What information you are looking for?

    View Results

    Loading ... Loading ...
  • Last month Results

    How Is My Site?

    • Good (100%, 3 Votes)
    • Excellent (0%, 0 Votes)
    • Bad (0%, 0 Votes)
    • Can Be Improved (0%, 0 Votes)
    • No Comments (0%, 0 Votes)

    Total Voters: 3

    Vote

    Loading ... Loading ...