Daily market update: November 16, 2016

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Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 9.2 percent from one week earlier for the week ending November 11, 2016.
  • The refinance share of mortgage activity decreased to 61.9 percent of total applications from 62.3 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to its highest level since January 2016, 3.95 percent, from 3.77 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

Mortgage Bankers Association’s Builder Applications Survey for October 2016:

  • Mortgage applications for new home purchases increased 8 percent year-over-year in October 2016.
  • Applications decreased by 2 percentage points month-over-month.
  • New single-family home sales were running at a seasonally adjusted annual rate of 547,000 units in October 2016.

Email market reports to press@inman.com.