Markets & Economy

Daily market update: November 18, 2016

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

CoreLogic’s Market Pulse Report for November 2016:

  • The home price index year-over-year change was 6.3 percent.
  • The cash sales share in June 2016 was 29.3 percent.
  • The distressed sales share in June 2016 was 7.8 percent.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

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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.

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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.

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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.

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Email market reports to press@inman.com.