Markets & Economy

Real estate market recap, September 12-16, 2016

The big news in real estate markets, recapped for your convenience

Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Thursday, September 15:

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.

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Freddie Mac Primary Mortgage Market Survey:

  • 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.

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Wednesday, September 14:

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications increased 4.2 percent week-over-week on a seasonally adjusted basis.
  • On an unadjusted basis, applications decreased 17 percent week-over-week.
  • The refinance share of mortgage activity decreased to 62.9 percent of total applications from 64.0 percent the previous week.

Tuesday, September 13:

Quicken Loans Home Price Perception Index for August 2016:

  • Appraised values were 1.56 percent lower than homeowner estimates in August 2016.
  • Home values increased 1.73 percent month-over-month in August 2016.
  • Year-over-year, values increased 8.13 percent.

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CoreLogic National Foreclosure Report for July 2016:

  • Foreclosure inventory was down 3.9 percent in July 2016 from June 2016.
  • Completed foreclosures were down 34,000 in July 2016.
  • This is a 16.5 percent year-over-year decline and a 3.9 percent month-over-month decline.

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