Real estate market recap, December 12-16, 2016

Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

Day-by-day market activity

Friday, December 16:

U.S. Census Bureau/U.S. Department of Housing and Urban Development New Residential Construction for November 2016:

• Privately-owned housing units authorized by building permits in November were at a seasonally adjusted annual rate of 1,201,000, 4.7 percent below the revised October rate of 1,260,000 and 6.6 percent below the November 2015 estimate of 1,286,000.
• Privately-owned housing starts in November were at a seasonally adjusted annual rate of 1,090,000, 18.7 percent below the revised October estimate of 1,340,000 and 6.9 percent below the November 2015 rate of 1,171,000.
• Privately-owned housing completions in November were at a seasonally adjusted annual rate of 1,216,000, 15.4 percent above the revised October estimate of 1,054,000 and 25.0 percent above the November 2015 rate of 973,000.

CoreLogic’s Market Pulse Report for December 2016:

• The home price index (HPI) in October 2016 was up 6.7 percent year-over-year.
• The Q3 negative equity share was 6.3 percent.
• The cash sales share as of August 2016 was 31.1 percent.

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Thursday, December 15:

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:

• 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.

Wednesday, December 14:

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.

Tuesday, December 13:

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

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

• 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.

Email market news to press@inman.com.