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.
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.
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.
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.
Article image credited to AshDesign / Shutterstock.com
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