Daily market update: December 15, 2016

by Staff Writer
December 15, 2016

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.

image002

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.

fig-1-u-s-ne-time-series-b91539

Freddie Mac’s Primary Mortgage Market Survey:

Use virtual real estate to connect with buyers just about anywhere
See how one agent helps his remote clients in a second home market READ MORE
  • 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.

pmms_chart_lg-1

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:

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