Check Inman every day for the daily version of this market roundup.
Home equity rates:
Day-by-day market activity
Wednesday, November 23:
- U.S. house prices rose 1.5 percent in the third quarter of 2016.
- House prices rose 6.1 percent from the third quarter of 2015 to the third quarter of 2016.
- FHFA’s seasonally adjusted monthly index for September was up 0.6 percent from August.
- Mortgage applications increased 5.5 percent from one week earlier for the week ending November 18, 2016.
- The refinance share of mortgage activity decreased to 58.2 percent of total applications from 61.9 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, 4.16 percent, from 3.95 percent.
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- The 30-year fixed-rate mortgage averaged 4.03 percent with an average 0.5 point for the week ending November 23, 2016.
- This is up from last week when it averaged 3.94 percent.
- A year ago at this time, the 30-year FRM averaged 3.95 percent.
- Sales of new single-family houses in October 2016 were at a seasonally adjusted annual rate of 563,000.
- This is 1.9 percent (±13.1%)* below the revised September rate of 574,000, but is 17.8 percent (±16.9%) above the October 2015 estimate of 478,000.
- The median sales price of new houses sold in October 2016 was $304,500; the average sales price was $354,900.
Tuesday, November 22:
- Non-distressed properties sold during October had an average price of $297,300, based on a three-month moving average.
- This is an 1.8 percent decline from the previous month and a 4.1 percent decline from the average price of $310,000 in August.
- Prices in October were up by 3.4 percent year-over-year.
- Total existing-home sales were at a seasonally adjusted annual rate of 5.60 million in October.
- This is a 2.0 percent month-over-month increase from the upwardly revised rate of 5.49 million in September.
- A year ago in October, the sales pace was 5.29 million.
Monday, November 21:
- Potential existing-home sales increased to a 5.9 million seasonally adjusted, annualized rate (SAAR).
- This represents a 97.4 percent increase from the market potential low point reached in December 2008.
- In October, the market potential for existing-home sales grew by 6.7 percent compared with a year ago, an increase of 376,000 (SAAR) sales.
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