Markets & Economy

Daily market update: September 16, 2016

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

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.

 

screen-shot-2016-09-15-at-7-48-44-am

Freddie Mac Primary Mortgage Market Survey:

3 essential tools that will 10X your real estate marketing
Smart landing pages, a synchronized database and automation generate results READ MORE
  • 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.

pmms_chart_lg

Email market reports to press@inman.com.