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- Mortgage applications increased 2.5 percent from one week earlier for the week ending December 16, 2016.
- The refinance share of mortgage activity increased to 57.9 percent of total applications from 57.2 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages increased to its highest level since May 2014, 4.41 percent, from 4.28 percent.
- Total existing-home sales rose 0.7 percent to a seasonally adjusted annual rate of 5.61 million in November.
- This is up from a downwardly revised 5.57 million in October.
- November’s sales pace is now the highest since February 2007 (5.79 million) and is 15.4 percent higher than a year ago (4.86 million).
- Overall confidence for transaction volume growth over the next 12 months declined 11.8 percent from Q3 2016.
- Confidence for transaction volume growth also fell 3.8 percent compared with a year ago.
- Confidence for growth in purchase transaction volume over the next 12 months remains positive, but declined 8 percent from last quarter and fell 8.8 percent compared with a year ago.
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- The average credit score for the lowest 1 percent of homebuyers was between 622 and 624.
- The average credit score on purchase money loans in Q3 was 739.
- The share of home purchases with loan-to-value of 95 percent or higher was 43 percent, down from 47 percent in Q3 2015.
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