Markets & Economy

Daily market update: October 28, 2016

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

CoreLogic October 2016 Market Pulse:

  • The Home Price Index year-over-year change for August 2016 was a 6.0 percent increase.
  • The share of homes with negative equity in Q2 2016 was 7.1 percent.
  • The cash sales share (as of June 2016) was 29.3 percent.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

National Association of Realtors Pending Home Sales for September 2016:

  • Pending home sales grew to 110.0 in September 2016.
  • This is 2.4 percent higher than September 2015.
  • It also indicates a 1.5 percent growth from August 2016.

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Freddie Mac’s Primary Mortgage Market Rate Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.47 percent with an average 0.6 point for the week ending October 27, 2016.
  • This is down 5 basis points from 3.52 percent last week.
  • A year ago at this time, the 30-year FRM averaged 3.76 percent.

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Federal Housing Finance Agency’s September 2016 Mortgage Interest Rate Indices:

  • The National Average Contract Mortgage Rate for the Purchase of Previously Occupied Homes by Combined Lenders Index was 3.61 percent for loans closed in late September, up 3 basis points from 3.58 percent in August.
  • The average interest rate on all mortgage loans was 3.60 percent, up 1 basis point from 3.59 in August.
  • The average loan amount for all loans was $302,900 in September, down $19,800 from $322,700 in August.

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Email market reports to press@inman.com.