Markets & Economy

Daily market update: December 14, 2016

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

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

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications decreased 4.0 percent from one week earlier for the week ending December 9, 2016.
  • The refinance share of mortgage activity increased to 57.2 percent of total applications from 56.2 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages increased to its highest level since October 2014, 4.28 percent, from 4.27 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

Quicken Loans National Home Price Perception Index (HPPI) for November 2016:

  • Homeowner perceptions were 1 percent higher than appraiser opinions in November 2016.
  • This marks the fifth consecutive month the gap between homeowner expectations and appraised values narrowed.
  • The National Quicken Loans Home Value Index (HVI) shows appraised values moved higher by 0.42 percent in November.
Quicken HPPI for November 2016

Quicken HPPI for November 2016

Mortgage Bankers Association’s New Home Purchase Mortgage Applications for November 2016:

Are you a rich broker, or a poor broker?
How to drive automation and profit from Robert Kiyosaki's 'Cashflow Quadrant‘ READ MORE
  • Mortgage applications for new home purchases increased 12 percent relative to November 2015.
  • Compared to October 2016, applications decreased by 3 percent relative to the previous month.
  • The MBA estimates new single-family home sales were running at a seasonally adjusted annual rate of 588,000 units in November 2016.

CoreLogic’s National Foreclosure Report for October 2016:

  • Foreclosure inventory was down 3.6 percent in October 2016 from September 2016.
  • There were 30,000 completed foreclosures nationally, down from 40,000 in October 2015.
  • This represents a 24.9-percent decline year-over-year.

screen-shot-2016-12-13-at-11-43-39-am

Email market reports to press@inman.com.