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- Existing-home sales were up 3.2 percent in September month-over-month.
- This was propelled by a 34-percent share of first-time buyers.
- The median existing-home price for all housing types in September was $234,200.
Home equity rates:
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- Mortgage applications increased 0.6 percent from one week earlier for the week ending Oct. 14, 2016.
- The refinance share of mortgage activity decreased to 61.5 percent of total applications from 62.4 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to 3.73 percent from 3.68 percent.
- Single-family authorizations in September were at a rate of 739,000, 0.4 percent above August 2016’s revised figures.
- Single-family housing starts in September were at a rate of 783,000, 8.1 percent above August 2016’s revised figures.
- Single-family housing completions in September were at a rate of 687,000, 8.8 percent below August 2016’s revised figures.
- The average time to close all loans increased to 48 days in September 2016 from 46 days in August 2016.
- The 30-year note rate declined to 3.750.
- Closing rates experienced a slight decrease to 71.8 percent.
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