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Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending December 1, 2016.
  • This is up from last week when it averaged 4.03 percent.
  • A year ago at this time, the 30-year FRM averaged 3.93 percent.

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U.S. Census Bureau’s October 2016 construction report:

  • Construction spending during October 2016 was estimated at a seasonally adjusted annual rate of $1,172.6 billion.
  • This is 0.5 percent above the revised September estimate of $1,166.5 billion.
  • The October figure is 3.4 percent above the October 2015 estimate of $1,134.4 billion.

Attom Data Solution’s Q3 Home Refinance Originations report:

  • More than 1.9 million (1,919,180) loans were originated on U.S. residential properties (1 to 4 units) in the third quarter of 2016.
  • This is down 2 percent from the previous quarter and up less than 1 percent from a year ago.
  • The report also shows total dollar volume of loan originations increased 8 percent from a year ago to more than $502 billion thanks to higher average loan amounts.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

National Association of Realtors’ Pending Home Sales Index for October 2016:

  • The Pending Home Sales Index was up 0.1 percent to 110.0 in October from a slight downward revision of 109.9 in September.
  • With last month’s small increase, the index is now 1.8 percent higher than last October (108.1).
  • 40 percent of sales in October sold at or above list price, an increase from 33 percent last October.

First American October 2016 Loan Application Defect Index:

  • The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications, decreased 1.4 percent in October compared with September 2016.
  • Compared to October 2015, the Defect Index decreased by 13.9 percent.
  • The Defect Index is down 33.3 percent from the high point of risk in October 2013.

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Freddie Mac’s Multi-Indicator Market Index for September 2016:

  • The national MiMi value stands at 86, indicating a housing market that’s on the outer edge of its historic benchmark range of housing activity.
  • This indicates a 0.42 percent improvement from August to September and a three-month improvement of +1.61 percent.
  • On a year-over-year basis, the national MiMi value improved 5.56 percent.

Yardi Matrix Monthly Real Estate Market Report for November 2016:

  • Average U.S. monthly rents fell in November, marking the third consecutive month of decline.
  • The national average was $1,214, down $2 from October 2016.
  • Metros whose rents fell the most in November on a trailing three-month basis were Denver, San Francisco, Baltimore, Boston and Seattle.

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 9.4 percent from one week earlier for the week ending November 25, 2016.
  • The refinance share of mortgage activity decreased to 55.1 percent of total applications, the lowest level since June 2016, from 58.2 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since July 2015, 4.23 percent, from 4.16 percent, with points increasing to 0.41 from 0.39.

Email market reports to press@inman.com.