Markets & Economy

Daily market update: January 10, 2017

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

CoreLogic National Foreclosure Report for November 2016:

  • The foreclosure inventory in November 2016 was down 2.4 percentage points from October 2016.
  • This indicates a 25.9 percent year-over-year decline.
  • There were 26,000 foreclosures completed in November 2016.

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Quicken Loans Home Price Perception Index (HPPI) for December 2016:

  • The national HPPI shows appraised values were 1.33 percent lower than homeowners estimated in December 2016.
  • This indicates a widening of opinions between appraisers and homeowners.
  • Home values fell 1.19 percent in December, but increased 3.85 percent year-over-year.

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National Housing Tides Index for January 2017:

  • The Housing Tides Index rose from 72.8 in December to 73.3 in January.
  • The ratio of U.S. housing permits to changes in total employment improved for the year ending October 2016.
  • However, at a ratio of 0.46 housing permits per new job created, housing production remains too low to meaningfully slow price increases or return to a balanced inventory level.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for December 2016:

  • The HPSI¬†decreased again in December by 0.5 percentage points to 80.7.
  • The HPSI is down 2.5 percentage points compared with the same time last year.
  • The net share of Americans who say it is a good time to buy a house rose by 2 percentage points to 32 percent;¬†the net percentage of those who say it is a good time to sell was unchanged from the prior month at 13 percent.

Email market reports to press@inman.com.