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First American’s Existing-Home Sales Capacity (EHS-C) for September 2015:
- The EHS-C rate decreased by 0.1 percent month-over-month in September 2015 and 3.6 percent year-over-year.
- The seasonally adjusted annualized rate of existing-home sales capacity is up 77.1 percent from February 2009, the lowest point recorded by First American.
- Existing-home sales spiked in July, dropped in August and rebounded in September.
The National Association of Realtors’ existing-home sales report for September 2015:
- Total existing-home sales increased 4.7 percent month-over-month in September 2015.
- The median existing-home price increased 6.1 percent year-over-year.
- Total housing inventory decreased 2.6 percent month-over-month and 3.1 percent year-over-year.
Freddie Mac’s Primary Mortgage Market Survey:
- 30-year fixed-rate mortgages (FRMs) averaged 3.79 percent with an average 0.6 point for the week ending October 22, 2015; this is down from 3.82 percent the previous week and 3.92 percent the previous year.
- 15-year FRMs averaged 2.98 percent with an average 0.5 point, down from 3.03 percent the previous week and 3.08 percent the previous year.
- 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.89 percent with an average 0.4 point, up from 2.88 percent the previous week and down from 2.91 percent the previous year.
Federal Housing Finance Agency’s August 2015 House Price Index:
- Prices for homes rose 0.3 percent month-over-month in August 2015.
- Home prices in August 2015 were up 5.5 percent year-over-year.
- The index is roughly the same as its December 2006 level.
Realtytrac U.S. Home Equity & Underwater report for Q3:
- The number of seriously underwater homeowners dropped significantly in the third quarter of 2015 due to rising home sales volumes and prices.
- The number of equity rich homeowners went down, at the same time, as more homeowners leveraged their equity and refinanced, traded up or cashed out completely.
- Only one in three properties in foreclosure was seriously underwater, the lowest level since RealtyTrac began tracking in the Q1 2012 and down from a peak of 62 percent underwater in the second quarter of 2012.
HOPE NOW’s August 2015 foreclosure sales report:
- Foreclosure activity is at its lowest level since 2007, when the organization began collecting data.
- Foreclosure sales decreased 7 percent month-over-month in August 2015.
- Foreclosure sales decreased 23 percent year-over-year in August 2015.
The Houzz third-quarter renovation index:
- Landscape specialty firms have reported a quarterly activity decrease of 21 percent.
- General contractors, remodelers and design-build firms are in the shortest supply.
- Year-over-year gains continue across all industry groups, though.
[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 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.
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