Markets & Economy

Daily market update: November 2, 2016

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

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.2 percent from one week earlier for the week ending October 28, 2016.
  • The refinance share of mortgage activity remained unchanged at 62.7 percent of total applications from the previous week.
  • The FHA share of total applications remained unchanged at 11.1 percent from the week prior.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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:

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  • 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.

Email market reports to press@inman.com.