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Daily market update: Nov. 18, 2015

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

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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....