Daily market update: October 6, 2016

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

Freddie Mac’s Primary Mortgage Market Survey:

  • The 3o-year fixed-rate mortgage (FRM) averaged 3.42 percent with an average 0.5 point for the week ending October 6, 2016.
  • This rate is unchanged from last week’s.
  • A year ago at this time, the 30-year FRM averaged 3.76 percent.

pmms_chart_lg

Mortgage rates:

 

Home equity rates:

Most recent market news:

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications increased 2.9 percent from one week earlier for the week ending September 30, 2016.
  • The unadjusted Purchase Index was down 0.2 percent week-over-week and 14 percent year-over-year.
  • The refinance share of mortgage activity increased to 63.8 percent of total applications from 62.7 percent the previous week.

Email market reports to press@inman.com.