Markets & Economy

Daily market update: November 4, 2016

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

Bureau of Labor Statistics Employment Situation Summary for October 2016:

  • Total nonfarm payroll employment rose by 161,000 in October 2016.
  • The unemployment rate¬†was little changed at 4.9 percent.
  • Employment continued to trend up in health care, professional and business services,
    and financial activities.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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:

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  • 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:

  • 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.

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Email market reports to press@inman.com.