Check Inman every day for the daily version of this market roundup.
[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=”c0eKOcwwRlX” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”468″ url=”https://w.graphiq.com/w/c0eKOcwwRlX” link=”http://mortgage-lenders.credio.com” link_text=”Credio | Graphiq” ]
Day-by-day market activity
Friday, December 16:
- 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.
- 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.
Thursday, December 15:
- 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.
- 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.
- 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 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:
- 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.
- 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.
- 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.
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