Check Inman every day for the daily version of this market roundup.
Home equity rates:
Friday, November 4:
- 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.
Thursday, November 3:
- 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.
5 creative ways to thank your clients at the end of the year
Build your network and encourage referrals with year-end thank-yous that stand out READ MORE
- 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.
- 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.
Wednesday, November 2:
- 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.
Tuesday, November 1:
- 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.
- 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.
Monday, October 31:
- 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.
- 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 news to firstname.lastname@example.org.