Daily Archives: September 22, 2016

Average home price rises | Bedford Real Estate

Leave a reply

United States House Price Index MoM Change  1991-2016 

The average prices of single-family houses with mortgages guaranteed by Fannie Mae and Freddie Mac in the United States rose 0.5 percent on the month in July 2016, following an upwardly revised 0.3 percent growth in June and beating market expectations of a 0.3 percent gain. Year-on-year, the FHFA house price index went up 5.8 percent compared to a 5.6 percent increase in June. Housing Index in the United States averaged 0.28 percent from 1991 until 2016, reaching an all time high of 1.20 percent in January of 2000 and a record low of -1.70 percent in November of 2008. Housing Index in the United States is reported by the Federal Housing Finance Agency.

United States House Price Index MoM Change
read more….
http://www.tradingeconomics.com/united-states/housing-index

 

Sales of previously owned homes decline | Bedford Hills Real Estate

Leave a reply

United States Existing Home Sales  1968-2016 

Sales of previously owned houses in the United States declined 0.9 percent to a seasonally adjusted annual rate of 5330 thousand in August of 2016. It is the second consecutive decline, missing market expectations of a 1.1 percent gain. Sales of single family homes shrank 2.3 percent which those of condos increased 10.5 percent. The average price fell 1 percent and the months’ worth of supply went down to 4.6. Existing Home Sales in the United States averaged 3868.24 Thousand from 1968 until 2016, reaching an all time high of 7250 Thousand in September of 2005 and a record low of 1370 Thousand in March of 1970. Existing Home Sales in the United States is reported by the National Association of Realtors.

United States Existing Home Sales
read more….
http://www.tradingeconomics.com/united-states/existing-home-sales

 

Single-family home construction starts drop -6.8% | Cross River Real Estate

Leave a reply

Single-family housing starts decreased to a seasonally adjusted annual rate of 722,000 in August, according to new residential construction data released by the Commerce Department Tuesday morning. August’s reading marks a significant -6.0% decrease from July’s upwardly-revised rate of 768,000. After three consecutive months of increases, August’s reading is disappointing. More significantly, August marks the first month in 2016 in which the pace of starts fell below the pace of starts seen a year earlier–compared to August 2015, one-unit starts are down -1.2%.

Single-family starts decreased significantly in the Northeast and South in August, dropping -13.8% and -13.1%, respectively, and bringing down total one-unit starts for the month. The Midwest (6.4%) and West (6.3%) posted gains month-over-month, and were the only regions to post an increase in pace year-over-year, with single family starts up 10.5% and 29.2%, respectively.

Total housing permits, the leading indicator for future starts, decreased -0.4% overall in August, due to a hefty -8.4% decrease in permits for multifamily construction with five units or more. Single-family permits increased 3.7% in August, indicating that the pace of starts will likely rebound in September. The Midwest and South posted the biggest gains in permits for one-unit structures, up 8.4% and 3.6%, respectively.

Total privately-owned housing completions dipped -3.4% month-over-month, to a seasonally adjusted annual rate of 1,043,000. The decline is primarily due to a large decline in completions of multifamily structures of 5 units or more, which fell -11.0% from July, but one-unit completions also posted a marginal -0.3% decrease month-over-month to 752,000.

 

read more,,,

 

http://www.builderonline.com/money/economics/

Mortgage rates average 3.48% | Waccabuc Real Estate

Leave a reply

Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS®), showing average fixed mortgage rates ticking down slightly from last week’s post-Brexit high.

News Facts

  • 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.6 point for the week ending September 22, 2016, down from last week when it averaged 3.50 percent. A year ago at this time, the 30-year FRM averaged 3.86 percent.
  • 15-year FRM this week averaged 2.76 percent with an average 0.5 point, down from last week when it averaged 2.77 percent. A year ago at this time, the 15-year FRM averaged 3.08 percent.
  • 5-year Treasury-indexed hybrid adjustable-rate mortgage (ARM) averaged 2.80 percent this week with an average 0.5 point, down from last week when it averaged 2.82 percent. A year ago, the 5-year ARM averaged 2.91 percent.

Average commitment rates should be reported along with average fees and points to reflect the total upfront cost of obtaining the mortgage. Visit the following link for the Definitions. Borrowers may still pay closing costs which are not included in the survey.

Quote
Attributed to Sean Becketti, chief economist, Freddie Mac.

“The 10-year Treasury yield declined after last week’s post-Brexit high in anticipation of the Fed’s September policy meeting. The 30-year fixed-rate mortgage followed Treasury yields, falling 2 basis points and settling at 3.48 percent. Despite the decrease in rates, the Refinance Index plunged 8 percent to its lowest level since June.