Markets & Economy

Daily market update: November 3, 2016

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Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI):

  • The MCAI increased 2.6 percentage points to 171.3 in October.
  • Of the four component indices, the Jumbo MCAI saw the greatest increase in availability over the month (up 5.8 percent), followed by the Conventional MCAI (up 4.0 percent).
  • The Conforming MCAI (up 2.2 percent) and the Government MCAI (up 1.6 percent) followed.

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Freddie Mac Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 3.54 percent with an average 0.5 point for the week ending November 3, 2016.
  • This is up from last week when it averaged 3.47 percent.
  • A year ago at this time, the 30-year FRM averaged 3.87 percent.

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Attom Data Solutions Distressed Home Sales report for Q3 2016:

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  • Distressed sales accounted for 12.9 percent of all U.S. single family home and condo sales in Q3 2016.
  • This is down from 15.0 percent the previous quarter.
  • It’s also a decline from 15.9 percent in Q3 2015.

distressed_sales_historical_q3_2016

Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

Email market reports to press@inman.com.