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Daily market update: Dec. 8, 2015

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

First American’s Real Estate Sentiment Index for Q4 2015:

  • Title agents agree that sales transactions will increase for first-time homebuyers and “move up” buyers in the next year.
  • Title agents believe that first-time homebuyers will be most impacted by a potential interest rate hike.
  • Title agents believe that interest rates would need to creep up to 5.1 percent before primary residential transaction volumes are affected.
<a href=’http:&#47;&#47;www.firstam.com&#47;economics&#47;real-estate-sentiment-index&#47;’><img alt=’Story Title ‘ src=’http:&#47;&#47;public.tableau.com&#47;static&#47;images&#47;Fo&#47;FourthQuarter2015RealEstateSentimentIndexHomeownershipDemand&#47;HRStory&#47;1_rss.png’ style=’border: none’ /></a>

The latest Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI):

  • The MCAI decreased 0.8 percent; it’s now 127.4.
  • The Conventional MCAI was down 2.0 percent.
  • The Conforming MCAI was down 1.0 percent.

CoreLogic’s October 2015 Foreclosure Report:

  • Foreclosure inventory fell 21.5 percent year-over-year in October 2015.
  • Foreclosures were down 12.3 percent from September 2015.
  • This is the 48th straight month of decline.

Quicken’s November 2015 Home Price Perception Index:

  • The average appraisal in November was 1.87 percent lower than what homeowners expected the value to be.
  • November is the 10th consecutive month in which homeowner expectations of value exceeded the appraisers’ opinions.
  • Average appraised home values rose 1.08 percent month-over-month and 4.84 percent year-over-year.

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:

December 2015 preliminary Money Anxiety Index:

  • The December index stands at 63.2.
  • This is the same level as November 2015 but 5.8 index points lower than December 2014.
  • Consumers seem to have mixed confidence about the economy.

Black Knight October 2015 Mortgage Monitor:

  • High loan-to-value purchase mortgage originations were up 20 percent year-over-year in the third quarter of 2015.
  • 2015 residential home sales are up 4 percent from last year, and traditional sales are up 7 percent.
  • Distressed sales (REO or short sale transactions) have declined by 13 percent year-over-year.

Fannie Mae’s Home Purchase Sentiment Index (HPSI):

  • The HPSI decreased 2.4 points to 80.8 in November.
  • Consumers’ net attitudes about the direction of their household income relative to one year ago fell 5 points in November.
  • The HPSI Good Time to Sell component fell 6 points, while Good Time to Buy increased 1 point.

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