Markets & Economy

Daily market update: December 15, 2016

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

Attom Data Solutions foreclosure report for November 2016:

  • There were a total of 86,561 U.S. properties with foreclosure filings in November, down 18 percent from the previous month and down 17 percent from a year ago.
  • A total of 35,222 U.S. properties started the foreclosure process in November, down 19 percent from the previous month and down 15 percent from a year ago.
  • A total of 31,806 properties were repossessed by the lender (REO) in November, down 7 percent from the previous month and down 21 percent from a year ago.

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Zillow’s Third-Quarter 2016 Negative Equity Report:

  • The negative equity rate fell to 10.9 percent in Q3 from 12.1 percent in Q2.
  • It’s also down from 13.4 percent in Q3 2015.
  • 26.1 percent of homeowners with a mortgage are in “effective” negative equity, with less than 20 percent equity in their homes.

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Freddie Mac’s Primary Mortgage Market Survey:

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  • The 30-year fixed-rate mortgage (FRM) averaged 4.13 percent with an average 0.5 point for the week ending December 8, 2016.
  • This is up from last week when it averaged 4.08 percent.
  • A year ago at this time, the 30-year FRM averaged 3.95 percent.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

Email market reports to press@inman.com.