Daily market update: July 20, 2016

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Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.3 percent from one week earlier but was up 16 percent from one year ago.
  • The Refinance Index decreased 1 percent from the previous week.
  • The seasonally adjusted Purchase Index decreased 2 percent from one week earlier.

Ellie Mae’s Purchase Origination Insight Report for June 2016:

  • Purchases increased to 65 percent of all closed loans in June, up from 62 percent in May.
  • Refinances represented 34 percent of closed loans in June, down from 37 percent in May.
  • The average time to close all loans increased to 46 days in June, up from 45 days in May.

Mortgage rates:

 

Home equity rates:

Most recent market news:

U.S. Census Bureau/Center for Housing and Urban Development New Residential Construction for June 2016:

  • Privately-owned housing units authorized by building permits were at 1,153,000 in June, 1.5 percent above May 2016 but 13.6 percent below June 2015.
  • Privately-owned housing starts in June were at a seasonally adjusted annual rate of 1,189,000, 4.8 percent above May 2016 but is 2.0 percent below June 2015.
  • Privately-owned housing completions in June were at a seasonally adjusted annual rate of 1,147,000, 12.3 percent above May 2016 and 18.7 percent above June 2015.

Email market reports to press@inman.com.