Check Inman every day for the daily version of this market roundup.
[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”]
Thurs., Dec. 17:
Re/Max’s December National Housing Report:
- November home sells fell by 1.4 percent year-over-year.
- Month-over-month, November sales fell by 22.6 percent.
- The median sales price was up year-over-year by 4.1 percent.
First American’s Potential Home Sales Model for November 2015:
- The market potential for existing-home sales decreased by 2.1 percent month-over-month.
- The Potential Home Sales Model decreased by 8.0 percent year-over-year.
- The model’s current underperformance gap is an estimated 147,000 (seasonally adjusted, annualized rate).
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending December 17 2015.
- This is up from last week, when the 30-year FRM averaged 3.95 percent.
- A year ago at this time, the 30-year FRM averaged 3.80 percent.
Weds., Dec. 16:
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.
Tues., Dec. 15:
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 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.