Markets & Economy

Daily market update: December 2, 2016

Published on Dec 2, 2016

We’ll add more market news briefs throughout the day. Check back to read the latest.

Bureau of Labor Statistics’ Employment Situation Summary for November 2016:

  • The unemployment rate declined to 4.6 percent in November.
  • Total nonfarm payroll employment increased by 178,000.
  • Employment gains occurred in professional and business services and in health care.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

purchase_refinance_origination_trends_q3_2016

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