Daily market update: Jan. 6, 2016

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

Mortgage Bankers Association’s Weekly Applications Survey:

• Mortgage applications decreased 27 percent (seasonally adjusted) from two weeks earlier for the week ending Jan. 1, 2016.
• On an unadjusted basis, applications decreased 50 percent.
• The refinance index decreased 37 percent from two weeks ago.

Auction.com Real Estate Nowcast for December 2015:

• Existing home sales for December will fall between 4.8 and 5.11 million annual sales.
• This is up 4.1 percent from November.
• This also represents a 3.8 percent year-over-year decline.

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:

CoreLogic’s Home Price Index report for November 2015:

• Colorado, Hawaii, Nebraska, New York, Montana, Tennessee, Texas and Wyoming reached new price highs in November 2015.
• Home prices were up 6.3 percent year-over-year.
• CoreLogic forecasts that home prices will increase by 5.4 percent by November 2016.

Yardi Matrix’s December 2015 apartment trends report:

• Rents were up 6.4 percent year-over-year in December 2015.
• This is significantly higher than the 2.8 percent long-term average.
• Average rent nationwide remained at $1,165; this is $1 less than the peak in September and October 2015.

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