Markets & Economy

Daily market update: October 17, 2016

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Re/Max’s October 2016 National Housing Report:

  • Home sales fell 11.7 percentage points from August to September.
  • However, home sales were up 2.0 percentage points form September 2015 to September 2016.
  • The median sales price in September was $219,780, 5.1 percent above one year ago.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

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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.

Email market reports to press@inman.com.