Markets & Economy

Daily market update: September 7, 2016

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

Mortgage Bankers Association’s Weekly Applications Survey:

  • The market composite index increased 0.9 percent on a seasonally adjusted basis from one week earlier.
  • Unadjusted, the index decreased 0.1 percent week-over-week.
  • The refinance share of mortgage activity increased to 64.0 percent of total applications from 63.5 percent last week.

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for August 2016:

  • The HPSI fell 1.5 points to 85.0 in August.
  • Four of the six HPSI components decreased, including the share of consumers who expect prices to go up and the share who say it’s a good time to sell.
  • More consumers reported a positive employment outlook, but fewer reported significantly higher household income.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

CoreLogic Home Price Index for July 2016:

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  • Home prices increased year-over-year by 6 percent in July 2016.
  • Month-over-month, prices increased by 1.1 percent.
  • The CoreLogic HPI Forecast predicts that home prices will increase by 5.4 percent year-over-year from July 2016 to July 2017.

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Black Knight Financial Services’ Mortgage Monitor for July 2016:

  • There was $518 billion in first-lien mortgage originations in Q2.
  • Purchase originations increased 50 percent quarter-over-quarter.
  • Refinance originations increased 8 percent quarter-over-quarter.

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Email market reports to press@inman.com.