Markets & Economy

Daily market update: November 8, 2016

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

Quicken Home Price Perception Index for October 2016:

  • Owner estimates of home values were 1.15 percent higher than appraisers’ opinions in October.
  • This represents a narrowing of the gap between homeowner estimates and appraiser valuations.
  • In September, appraised values were 1.26 percent lower than homeowner expectation.

D-HVI-HPPI-Graphs

CoreLogic National Foreclosure Report for September 2016:

  • Foreclosure inventory was down 3.1 percentage points in September 2016 from August 2016.
  • There were 36,000 completed foreclosures in September.
  • This represents a 7.0 percentage point year-over-year decline.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

Black Knight Mortgage Monitor for September 2016:

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  • The seasonal uptick in delinquencies was less than 1 percent.
  • The foreclosure rate is about 70 percent above “normal” levels.
  • Despite the monthly decline, September saw the third-highest prepayment rate in three years.

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Fannie Mae Home Purchase Sentiment Index (HPSI) for October 2016:

  • The HPSI decreased by 1.1 percentage points to 81.7.
  • It is down 1.5 points since this time last year.
  • The net share of Americans who say it’s a good time to buy was 31 percent; the share of Americans who say it’s a good time to sell was 19 percent.

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Email market reports to press@inman.com.