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- 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.
- 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.
Episode 2 - Defining Success Through Failure
“Who am I? Why am I making these decisions? I came out of all that deciding who I was.” - Gary Keller READ MORE
- 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.
Home equity rates:
Most recent market news:
- 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.
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