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 Insights Report for November 2015:

  • The average time to close a loan increased to 49 days in November, up from 46 days in October.
  • The average FICO score on closed loans was 721.
  • Closing rates for all loans reached 68 percent.

U.S. Census Bureau and the Department of Housing and Urban Development’s New Residential Construction for November 2015:

  • Privately owned housing units authorized by permits in November were at a seasonally adjusted rate of 1,289,000.
  • This is 11.0 percent above the October rate and 19.5 percent above the November 2014 estimate.
  • Single-family authorizations in November were at a rate of 723,000, up 1.1 percent month-over-month.

Mortgage Bankers Association’s Weekly Applications Survey:

  • The market composite index of mortgage applications decreased 1.1 percent week-over-week for the week ending Dec. 11, 2015.
  • The refinance index increased 1 percent week-over-week.
  • The FHA share of total applications remained unchanged week-over-week from 14.0 percent.

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:

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.

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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 American Enterprise Institute’s International Center on Housing Risk’s First-Time Buyer Mortgage Share Index (FBMSI) and First-Time Buyer Mortgage Risk Index (FBMRI) for November 2015:

  • 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.

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Send market reports to press@inman.com.

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