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Daily market update: Sept. 9, 2015

Our daily summary of market news, updated regularly with new tidbits

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MBA's Weekly Mortgage Applications Survey for the week ending Sept. 4, 2015: Mortgage applications decreased 6.2 percent from one week earlier. Refinance activity decreased to 56.9 percent of total applications from 58.7 percent one week earlier. The average interest rate for 30-year fixed-rate mortgages increased to 4.1 percent from 4.08 percent one week earlier. NAR's New Home Construction/Job Growth research: Although some analysts have noted that job market growth is fueling a strong housing market and low foreclosure rates, NAR is concerned that it is also contributing to declines in new home construction. The association released a study today that shows the volume of new home construction is underperforming in 146 metropolitan areas that have seen big employment gains. Housing shortages and unhealthy price growth exist in many key real estate markets — and low inventory has already been a persistent problem in recent years, NAR said. [gview file="http://w...