Markets & Economy

Daily market update: September 8, 2016

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Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for August 2016:

  • The MCAI decreased 0.4 percent month-over-month to 164.7 in August 2016.
  • The Conforming MCAI saw the greatest decrease: 0.9 percent.
  • The Government MCAI was down 0.5 percent, and the Conventional MCAI was down 0.2 percent.

 

Total MCAI

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage averaged 3.44 percent with an average 0.6 point for the week ending September 8, 2016.
  • This is down from last week, when it averaged 3.46 percent.
  • A year ago, the average was 3.90 percent

pmms_chart_lg

Mortgage rates:

 

Home equity rates:

Most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

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  • 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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Email market reports to press@inman.com.