We’ll add more market news briefs throughout the day. Check back to read the latest.
- Mortgage applications increased 5.8 percent from one week earlier for the week ending January 6, 2017.
- The refinance share of mortgage activity decreased to 51.2 percent of total applications from 52.2 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.32 percent from 4.39 percent.
Home equity rates:
Most recent market news:
- 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.
- 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.
- 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.
Email market reports to [email protected].