We’ll add more market news briefs throughout the day. Check back to read the latest.
- Closing time for all loans remained 46 days for the third consecutive month, and the time to close refis dropped to 46 days in August.
- The average 30-year rate for all loans decreased from 3.87 in July to 3.77 in August.
- 13 percent of closed purchase loans had FICO scores over 800 and 58 percent of closed loans had FICO scores of 700 to 799.
Home equity rates:
Most recent market news:
- The monthly prepayment rate increased by 32 percent month-over-month.
- Delinquencies fell 6 percent month-over-month.
- Inventory of loans in foreclosure has declined for 19 consecutive months and in 51 of the past 52 months.
- House prices rose 0.5 percent (seasonally adjusted) in July 2016.
- The 0.2 percent June 2016 increase was revised to 0.3 percent.
- Year-over-year, prices rose 5.8 percent.
- The 30-year fixed-rate mortgage (FRM) averaged 3.48 percent with an average 0.6 point for the week ending September 22, 2016.
- This is down from last week, when it averaged 3.50 percent.
- One year ago, the 30-year FRM averaged 3.86 percent.
- Total existing-home sales declined 0.9 percent.
- The seasonally adjusted annual rate for August was 5.33 million, down from a downwardly revised 5.38 million in July 2016.
- Sales are at their second-lowest pace of 2016, but they are up 0.8 percent from one year ago (5.29 million) nonetheless.
- There were 12,718 mortgage applications estimated to have indications of fraud in Q2 2016.
- The mortgage application fraud risk index was up 3.9 percent year-over-year in Q2 2016.
- Florida continues to be the riskiest state for mortgage application fraud.
Email market reports to email@example.com.