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Kernlogik: Average mortgage interest rate at 7-year high | 03.07.2008
House values rose further in May according to the latest Home Price Index survey by CoreLogic, a leading supplier of real estate information, analysis and data-driven services. House price rose by 7.1% from May 2017 to May 2018 at the national level and by 1.1% compared with the previous months, according to the survey. As the following graph shows, house price increases have been moderate since 2013.
CoreLogic reports that an equity capital breakdown of the country's 100 biggest cities shows that 40% of cities had an overexposed residential property in May 2018. A further 26% of the top 100 metropole regions were downgraded, 34% were downgraded. Looking only at the top 50 stores, 52% were overexposed, 14% underpriced and 34% at value.
A number of countries recorded double-digit gains in their 12-month rate of inflation, with Utah recording 12.9%, Washington 12.8%, Nevada 12.4% and Idaho 11.2%. According to the CoreLogic HPI forecast, the domestic house prices index is expected to rise by 5.1% between May 2018 and May 2019. Since May, the survey shows that, despite fiscal barriers, there is still great housing market pressure.
Mortgage interest rate on average continues downtrend
Mortgages fell for the third consecutive week and hit their lows since mid-April, said Freddie Mac. A 30-year fixed-rate mortgage averaging 4.51% for the period up to 23 August compared with 4.53% last year. One year ago at that point in the year, the 30-year fixed-rate mortgage stood at an average of 3.86%.
Already-house selling has now resigned yearly for the fifth even month, and buy mortgage requests this week were hardly above previous year's level." 15-year fixed-rate mortgage this weekend averages 3.98%, compared to last week's average of 4.01%. One year ago at that point in the year, the 15-year fixed-rate mortgage stood at an average of 3.16%.
A five-year Treasury-indexed floating rate hybride mortgage with an average score of 0.3 points averaging 3.82% compared to last week's average score of 3.87%. One year ago at that point in the year, the five-year floating rate mortgage was 3.17% on average. "The mortgage interest rate has taken hold of the lull in lull in Indian demand, remained stable last weekend and remained almost exactly where it was a fortnight ago.
In the last few week of August, typical calm has been seen in global finance and there has been very little important business information to shake their development," said Aaron Terrazas, Zillow's chief Economist, as the firm published its own interest rate trackers on August 22.