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Mortgage Banker’s Association’s Weekly Applications Survey:
- The Market Composite Index increased 11.8 percent week-over-week on a seasonally adjusted basis.
- The Refinance Index increased 9 percent week-over-week.
- The seasonally adjusted Purchase Index increased 16 percent week-over-week.
Weiss Residential Research’s August 2015 appreciation/depreciation report:
- The national percentage of depreciating homes rose from 23.40 percent in July 2015 to 27.0 percent in August.
- The national percentage of appreciating homes rose slightly from 56.8 percent in July 2015 to 59.3 percent in August.
- Flint, Michigan, was a top market by appreciation percentage; Hickory-Lenoir-Morganton, North Carolina, was a top market by depreciation percentage.
Ellie Mae’s September 2015 loan origination insights report:
- Average credit scores for closed loans fell to an average FICO score of 723, the lowest since Ellie Mae began reporting data in August 2011.
- Refinance activity represented 42 percent of overall loan volume.
- Credit availability on refinances appears to have increased in the third quarter of 2015.
Mortgage rates:
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]
[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]
Yesterday’s most recent market news:
Mortgage Bankers Association’s 2016 forecast:
- The Mortgage Bankers Association (MBA) expects $905 billion in purchase mortgage originations during 2016.
- MBA also predicts that refinance originations will comprise $415 billion in 2016, a decrease of one-third.
- Mortgage originations will decrease to $1.32 trillion in 2016 compared with $1.45 trillion in 2015.
- Privately-owned housing units authorized by building permits in September 2015 were 5.0 percent below the revised August 2015 rate but 4.7 percent above September 2014.
- Privately-owned housing starts were 6.5 percent above the revised August 2015 estimate and 17.5 percent above the September 2014 rate.
- Single-family housing starts in September 2015 were up 0.3 percent month-over-month.
Auction.com’s list of the hottest single-family residential markets this fall:
- Seattle was listed as the hottest market because of the city’s tech sector, which is seen as driving employment.
- Fort Lauderdale was next, attributed to growth in employment and a recovering housing market.
- Orlando was third, with a thriving leisure and hospitality industry.
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