Check Inman every day for the daily version of this market roundup.
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”c0eKOcwwRlX” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”468″ url=”https://w.graphiq.com/w/c0eKOcwwRlX” link=”http://mortgage-lenders.credio.com” link_text=”Credio | Graphiq” ]
Day-by-day market activity
Thursday, November 10:
- There were a total of 105,481 properties with foreclosures filings in October.
- This is up 27 percentage points from September 2016.
- However, it’s down 8 percentage points from October 2015.
- The 30-year fixed-rate mortgage averaged 3.57 percent with an average 0.5 point for the week ending November 10, 2016.
- This is up from last week, when it averaged 3.54 percent.
- A year ago at this time, the 30-year FRM averaged 3.98 percent.
- The delinquency rate for mortgage loans on residential properties with one to four units decreased 14 basis points to a rate of 4.52 percent of all loans.
- This is the lowest level since the second quarter of 2006, with a rate of 4.39 percent.
- It’s also 47 basis points lower than one year go.
Wednesday, November 9:
- 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
Tuesday, November 8:
- 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.
- 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.
Monday, November 7:
- 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.
- 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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