July 17, 2020 | Market Update

Market News 7-17-2020

Mortgage Market Update

Repeat Homes Sales Up

The CoreLogic National House Price Index, a repeat sales measure, rose 0.7% in May (not seasonally adjusted). The index rose 4.8% from one year ago, the fastest annual pace of growth since November 2018.1

Mortgage Applications Up

Mortgage applications rose 2.2% for the week ending July 3, according to the Mortgage Bankers Association. Purchase applications grew 5.3% to the highest level since January 2009. Refinance applications edged up 0.4%. From a year ago, purchase and refinance applications were up 18.0% and 87.5%, respectively.4

Sources: 1CoreLogic; 4Fannie Mae