Markets & Economy

Daily market update: October 11, 2016

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Quicken Loans Home Price Perception Index (HPPI) for September 2016:

  • Appraisals lagged behind homeowner estimates by 1.26 percent in September.
  • This is a smaller gap than recorded in August 2016 — a 1.56 percent gap between perceptions.
  • This is the third consecutive month wherein appraiser and homeowner estimates became more closely aligned.

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CoreLogic’s National Foreclosure Report for August 2016:

  • Foreclosure inventory was down 3.2 percentage points in August 2016 from July 2016.
  • Foreclosure inventory fell by 30 percentage points year-over-year.
  • This was the 58th consecutive month of year-over-year foreclosure declines.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Bureau of Labor Statistics Employment Report for September 2016:

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  • Nonfarm payroll employment increased by 156,000 jobs in September 2016.
  • The unemployment rate was 5.0 percent in September 2016, up slightly from 4.9 percent in August.
  • The professional and business services sector and health care sector saw employment gains in September.

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Fannie Mae’s Home Purchase Sentiment Index (HPSI) for September 2016:

  • The HPSI fell to 82.8 in September 2016.
  • This is a 2.2 percentage point decrease from August 2016.
  • In September 2015, the HPSI was 83.8.

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Email market reports to press@inman.com.