Daily market update: December 2, 2016

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

Bureau of Labor Statistics’ Employment Situation Summary for November 2016:

  • The unemployment rate declined to 4.6 percent in November.
  • Total nonfarm payroll employment increased by 178,000.
  • Employment gains occurred in professional and business services and in health care.

Mortgage rates:

[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=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.08 percent with an average 0.5 point for the week ending December 1, 2016.
  • This is up from last week when it averaged 4.03 percent.
  • A year ago at this time, the 30-year FRM averaged 3.93 percent.

pmms_chart_lg

U.S. Census Bureau’s October 2016 construction report:

  • Construction spending during October 2016 was estimated at a seasonally adjusted annual rate of $1,172.6 billion.
  • This is 0.5 percent above the revised September estimate of $1,166.5 billion.
  • The October figure is 3.4 percent above the October 2015 estimate of $1,134.4 billion.

Attom Data Solution’s Q3 Home Refinance Originations report:

  • More than 1.9 million (1,919,180) loans were originated on U.S. residential properties (1 to 4 units) in the third quarter of 2016.
  • This is down 2 percent from the previous quarter and up less than 1 percent from a year ago.
  • The report also shows total dollar volume of loan originations increased 8 percent from a year ago to more than $502 billion thanks to higher average loan amounts.

purchase_refinance_origination_trends_q3_2016

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