Mortgage rates plus all the latest real estate market news.

We’ll add more market news briefs throughout the day. Check back to read the latest.

Ellie Mae’s Origination Insight Trends report for October 2015:

  • The average FICO score on a closed loan fell to 722.
  • The average FHA refinance FICO score fell 7 points to 654.
  • Front-end and back-end debt-to-income ratios have loosened to 25/39.

New residential construction in October 2015 (from the U.S. Department of Housing and Urban Development):

  • Privately owned housing units authorized by building permits in October were up 4.1 percent month-over-month and 2.7 percent year-over-year.
  • Privately owned housing starts in October were down 11.0 percent month-over-month and 1.8 percent down year-over-year.
  • Privately owned housing completions were down 6.0 percent month-over-month and up 5.2 percent year-over-year.

Mortgage Bankers Association’s Weekly Applications Survey:

  • The market composite index, which measures loan application volume, increased 6.2 percent week-over-week.
  • The refinance share of mortgage activity decreased 1.2 percent week-over-week.
  • The average contract interest rate for a 30-year fixed-rate mortgage with conforming loan balances increased to 4.18 percent from 4.12 percent week-over-week.

 

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”]

Last week’s most recent market news:

FNC Residential Price Index for Q3 2015:

  • The average home price rose 1.7 percent during the third quarter of 2015.
  • This is down from a growth rate of 3.5 percent in the second quarter.
  • September’s year-over-year growth was 6.1 percent.

FNC-q3

Mortgage Bankers Association’s Q3 delinquency and foreclosure report:

  • The serious delinquency rate for mortgage loans (90 or more days past due or in the process of foreclosure) was 3.57 percent, a decrease of 38 basis points from last quarter.
  • This is the lowest serious delinquency rate since 2007.
  • The percentage of loans on which foreclosure actions were started was 0.38 percent, a decrease of two basis points quarter-over-quarter.

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Send market reports to press@inman.com.

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