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Ellie Mae’s Origination Insights Report for August 2016:

  • Closing time for all loans remained 46 days for the third consecutive month, and the time to close refis dropped to 46 days in August.
  • The average 30-year rate for all loans decreased from 3.87 in July to 3.77 in August.
  • 13 percent of closed purchase loans had FICO scores over 800 and 58 percent of closed loans had FICO scores of 700 to 799.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Black Knight Financial Services’ First Look at August 2016 Mortgage Data:

  • The monthly prepayment rate increased by 32 percent month-over-month.
  • Delinquencies fell 6 percent month-over-month.
  • Inventory of loans in foreclosure has declined for 19 consecutive months and in 51 of the past 52 months.

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Federal Housing Finance Agency’s July 2016 House Price Index:

  • House prices rose 0.5 percent (seasonally adjusted) in July 2016.
  • The 0.2 percent June 2016 increase was revised to 0.3 percent.
  • Year-over-year, prices rose 5.8 percent.

screen-shot-2016-09-22-at-7-54-25-amFreddie Mac’s Primary Mortgage Market Rate:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.6 point for the week ending September 22, 2016.
  • This is down from last week, when it averaged 3.50 percent.
  • One year ago, the 30-year FRM averaged 3.86 percent.

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National Association of Realtors’ Existing-Home Sales for August 2016:

  • Total existing-home sales declined 0.9 percent.
  • The seasonally adjusted annual rate for August was 5.33 million, down from a downwardly revised 5.38 million in July 2016.
  • Sales are at their second-lowest pace of 2016, but they are up 0.8 percent from one year ago (5.29 million) nonetheless.

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CoreLogic’s Mortgage Fraud Trends Report for Q2 2016:

  • There were 12,718 mortgage applications estimated to have indications of fraud in Q2 2016.
  • The mortgage application fraud risk index was up 3.9 percent year-over-year in Q2 2016.
  • Florida continues to be the riskiest state for mortgage application fraud.

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Email market reports to press@inman.com.