Daily market update: October 13, 2016

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

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.47 percent with an average 0.6 point for the week ending October 13, 2016.
  • This is up from last week when it averaged 3.42 percent.
  • A year ago, the 30-year FRM averaged 3.82 percent.

pmms_chart_lg-1

Mortgage Bankers Association’s Builder Applications Survey for September 2016:

  • Mortgage applications for new home purchases increased 3 percent year-over-year.
  • Applications decreased 7 percent month-over-month.
  • Conventional loans comprised 68.8 percent of loan applications.

 

Mortgage rates:

[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]

 

Home equity rates:

[graphiq id=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

Mortgage Bankers Association’s weekly application rates:

  • Mortgage applications decreased 6.0 percent from one week earlier for the week ending October 7, 2016.
  • The refinance share of mortgage activity decreased to 62.4 percent of total applications from 63.8 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.68 percent from 3.62 percent the previous week.

Email market reports to press@inman.com.