Daily market update: September 16, 2016

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

Mortgage rates:

Home equity rates:

Most recent market news:

Mortgage Bankers Association’s Builder Applications Survey for August 2016:

• Mortgage applications for new home purchases increased by 5 percent month-over-month.
• Applications were up 14 percent year-over-year.
• The average loan size of new homes decreased from $325,843 in July to $325,224 in August.

CoreLogic Home Equity Report for Q2 2016:

• In Q2 2016, 7.1 percent of mortgaged homes had negative equity.
• This is an 8.9 percent decrease from the previous quarter.
• Negative equity value decreased $30.0 billion quarter-over-quarter.

Freddie Mac Primary Mortgage Market Survey:

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• The 30-year fixed-rate mortgage (FRM) reached its highest level since June in the week ending September 15, 2016.
• The 30-year FRM averaged 3.50 percent with an average 0.5 point.
• This is up from last weeks’ 3.44 percent. Last year this time, the 30-year FRM averaged 3.91 percent.

Email market reports to press@inman.com.