Markets & Economy

Daily market update: November 9, 2016

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

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 1.2 percent for the week ending Nov. 4, 2016, from one week earlier.
  • The refinance share of mortgage activity decreased to 62.3 percent of total applications from 62.7 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) increased to its highest level since June 2016, 3.77 percent, from 3.75 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

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:

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  • 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.

report_highlights_nfr_2016_09_sept

Email market reports to press@inman.com.