Markets & Economy

Daily market update: November 1, 2016

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

CoreLogic September 2016 Home Price Index:

  • Home prices nationwide, including distressed sales, increased year over year by 6.3 percent in September 2016.
  • They increased by 1.1 percent in September 2016 compared with August 2016.
  • The CoreLogic HPI Forecast indicates that home prices will increase by 5.2 percent on a year-over-year basis from September 2016 to September 2017.

september-national-home-price-change-1-hr

U.S. Census Bureau’s September 2016 Construction Spending:

  • Construction spending during September 2016 was estimated at a seasonally adjusted annual rate of $1,150.0 billion.
  • This is 0.4 percent below the revised August estimate of $1,154.4 billion.
  • This is also 0.2 percent below the September 2015 estimate of $1,152.1 billion.

Mortgage rates:

 

Home equity rates:

Most recent market news:

Black Knight Home Price Index (HPI) for August 2016:

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  • The current Black Knight HPI value is $266,000.
  • This is up 0.3 percent month-over-month.
  • It’s also up 5.3 percent year-over-year.

bkfs_hpi_aug2016_us_hi_res

First American Financial Corporation’s September 2016 Loan Application Default Index:

  • The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications decreased 1.4 percent in September 2016 compared with August 2016.
  • Compared to September 2015, the Defect Index decreased by 14.8 percent.
  • The Defect Index is down 32.3 percent from the high point of risk in October 2013.

Email market reports to press@inman.com.