We’ll add more market news briefs throughout the day. Check back to read the latest.
The FNC Residential Price Index for October 2015:
- Home prices fell 0.1 percent between September and October.
- Prices were up year-over-year by 5.9 percent, however.
- This ends a nine-month run of price increases.
CoreLogic’s Q3 Home Equity Report:
- In the third quarter of 2015, 256,000 properties regained equity.
- The total number of mortgaged residential properties with negative equity stood at 8.1 percent in Q3 2015.
- The national aggregate value of negative equity was $301 billion at the end of Q3 2015, an $8.1 billion decline quarter-over-quarter.
- The first-time buyer share and volume were up in November year-over-year.
- First-time buyers accounted for 56.7 percent of primary owner-occupied mortgages with a government guarantee, up from 55.0 percent year-over-year.
- Of first-time buyer loans, 54 percent were deemed high-risk, up from 51 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”]
Last week’s most recent market news:
Mortgage Bankers Association’s Builder Application Survey for November 2015:
- Mortgage applications for new home purchases decreased 6 percent month-over-month.
- Conventional loans comprised 68.4 percent of loan applications, FHA loans comprised 18.1 percent, VA loans comprised 12.6 percent and RHS/USDA loans comprised 0.9 percent.
- The average loan size for new homes decreased from $320,881 to $320,854 month-over-month.
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.6 point for the week ending December 10, 2015, up 0.02 percent week-over-week.
- The 15-year fixed-rate mortgage averaged 3.19 percent with an average 0.5 point, up 0.03 percent week-over-week.
- The 5-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 3.03 percent with an average 0.5 point, up 0.04 percent week-over-week.
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