Markets & Economy

Daily market update: December 21, 2016

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We’ll add more market news briefs throughout the day. Check back to read the latest.

Mortgage Bankers Association’s Weekly Applications Survey:

  • 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.

National Association of Realtors Existing-Home Sales for November 2016:

  • 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).

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First American Real Estate Sentiment Index for Q4 2016:

  • 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.

Mortgage rates:

 

Home equity rates:

Most recent market news:

CoreLogic Housing Credit Index for Q3 2016:

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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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