Daily market update: November 17, 2016

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

New Residential Construction Starts from the U.S. Census Bureau/U.S. Department of Housing and Urban Development:

  • Privately-owned housing units authorized by building permits in October were at a seasonally adjusted annual rate of 1,229,000, 0.3 percent above September 2016 and 4.6 percent above October 2015.
  • Privately-owned housing starts in October were at a seasonally adjusted annual rate of 1,323,000, 25.5 percent above September 2016 and 23.3 percent above the October 2015 rate.
  • Privately-owned housing completions in October were at a seasonally adjusted annual rate of 1,055,000, 5.5 percent above September 2016 and is 7.2 percent above October 2015.


Freddie Mac’s Primary Mortgage Market Survey for the week ending Nov. 17, 2016:

  • The 30-year mortgage rate jumped to 3.94 percent.
  • This is up from last week when it averaged 3.57 percent.
  • A year ago at this time, the 30-year FRM averaged 3.97 percent.


Re/Max’s November 2016 National Housing Report:

  • October saw near-record sales, but was still 1 percent below October 2015 sales.
  • The number of homes for sale was the lowest of any month since May and of any October since 2008. The months’ supply of inventory was 3.9.
  • Last month’s median sales price increased by 8.3 percentage points to $216,500.


Attom Data Solutions Q3 2016 U.S. Home Equity and Underwater Report:

  • Equity-rich (loan-to-value ration of 50 percent or lower) homeowners represented 23.4 percent of all U.S. homeowners with a mortgage.
  • This is an increase of 2.6 million homeowners from one year ago.
  • Seriously underwater homeowners (loan-to-value ratio of 125 percent or higher) represented 10.8 percent of all U.S. homeowners with a mortgage.


Mortgage rates:


Home equity rates:

Most recent market news:

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.

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