Markets & Economy

Real estate market recap, Jan. 11-15, 2016

The big news in real estate markets, recapped for your convenience

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Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Friday, Jan. 15:

FNC’s Residential Price Index:

  • The 100-MSA purchase index composite for November 2015 was 165.62, up .07 month-over-month.
  • The index was up 9.31 points year-over-year.
  • Los Angeles had the highest purchase price index: 243.13.

Thursday, Jan. 14:

Fannie Mae’s Economic & Strategic Research Group’s 2016 Economic & Housing Outlook:

  • Further labor market tightening will lead to increased household income and job security.
  • Home price gains on the low end of the market will continue to outpace household income growth.
  • Consumer spending will underpin economic growth in 2016.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage rate averaged 3.92 percent with an average 0.6 point for the week ending January 14, 2016.
  • This was down from last week, when it averaged 3.97 percent.
  • Year-over-year, mortgage rates are up from 3.66 percent.

Freddie-Mac-PMMS-1.14.16

Wednesday, Jan. 13:

Mortgage Bankers Association’s Weekly Applications Survey:

  • The Market Composite Index for mortgage applications increased 21.3 percent during the week ending January 8, 2016.
  • The Refinance Index increased 24 percent week-over-week.
  • The seasonally adjusted Purchase Index increased 18 percent week-over-week.

Quicken’s Home Price Perception Index for December 2015:

  • Appraised values in December were 1.8 percent lower than the homeowners’ opinion.
  • This is the 11th consecutive month when appraised values were lower than homeowners’ expectations.
  • Home values continued to increase in December.

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Tuesday, Jan. 12:

National Association of Realtors 2016 housing and economic forecast:

  • NAR Chief Economist Lawrence Yun predicted that the housing market might see a 1 to 3 percent growth in sales.
  • He said home prices would continue to rise in 2016.
  • Yun estimated that 2015 existing-home sales would finish 6.5 percent up from 2014.

2016 NAR Housing Expectations Infographic

CoreLogic’s November 2015 National Foreclosure Report:

  • Foreclosures were down 21.8 percent year-over-year.
  • Completed foreclosures were down 10.9 percent month-over-month.
  • Florida leads the nation with 83,000 completed foreclosures.

report_highlights_nfr_2015_11_nov_top_01

American Banker’s Association’s 2015 third-quarter delinquencies:

  • Delinquencies (a late payment 30 or more days overdue) rose in six of 11 loan categories.
  • The composite ratio rose 5 basis points to 1.41 percent of all accounts.
  • Home equity line delinquencies fell 3 basis points to 1.31 percent of all accounts and property improvement delinquencies fell 4 basis points to 0.87 percent of all accounts.

loan-delinquency

Monday, Jan. 11:

Black Knight November 2015 Mortgage Monitor:

  • The total delinquency rate was 4.92 percent in November 2015.
  • The total foreclosure rate was 1.38 percent.
  • There were 66,600 foreclosure starts in November 2015.

black-knight-mortgage-monitor

The January 2016 Money Anxiety Index:

  • The preliminary January index improved 1.3 points.
  • The January index is 62.2.
  • This is in part due to a robust December jobs report.

money-anxiety-jan-2016

press@inman.com.