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Daily market update: Nov. 5, 2015

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

We'll add more market news briefs throughout the day. Check back to read the latest. RealtyTrac's Q3 Home Sales Report: The average price gain for sold homes in the third quarter of 2015 was $40,658. This is the highest average price gain since Q3 2007. The average sale price of single-family homes and condos was up 0.2 percent from the previous quarter and up 2.4 percent year-over-year. Mortgage Bankers Association's October 2015 Mortgage Credit Availability Index (MCAI): The MCAI increased 1.5 percent to 128.4 in October 2015. The Conforming MCAI saw the greatest loosening, up 2.7 percent month-over-month. The Government MCAI was up 1.9 percent. Zillow's mortgage application research: The denial rate for 2014 conventional mortgage applications was 11.2 percent, down 1.2 percent from 12.4 percent in 2013. For black applicants, the denial rate fell from 27.6 percent in 2013 to 23.5 percent in 2014 -- a 4.1-percent drop. For white applicants, t...