Markets & Economy

Daily market update: December 22, 2016

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Attom Data Solutions Q4 2016 Home Affordability Index:

  • The national affordability index in Q4 was 103, the lowest level since Q4 2008.
  • This is down from 108 in the previous quarter.
  • It’s also down from 116 a year ago.

affordability_index_historical

Federal Housing Finance Agency’s House Price Index for October 2016:

  • U.S. house prices rose 0.4 percent on a seasonally adjusted basis from the previous month.
  • The previously reported 0.6 percent increase in September remained unchanged.
  • From October 2015 to October 2016, house prices were up 6.2 percent.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.30 percent with an average 0.5 point for the week ending December 22, 2016.
  • This is up from last week when it averaged 4.16 percent.
  • A year ago at this time, the 30-year FRM averaged 3.96 percent.

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Campbell/Inside Mortgage Finance HousingPulse Tracking Survey for November 2016:

  • Non-distressed properties sold during November had an average price of $299,900, based on a three-month moving average.
  • That was up 0.9 percent from October 2016.
  • Prices in November were up by 5.8 percent percent compared with the average price for non-distressed properties sold in November 2015.

Zillow November 2016 Real Estate Market Reports:

  • The median home value in the U.S. is now $192,500.
  • Home values rose 6.5 percent over the past year.
  • Rents rose 1.5 percent over the past year to $1,403 per month.

Federal Housing Finance Agency’s Q3 Foreclosure Prevention Report:

  • The serious delinquency rate for mortgages owned or guaranteed by Fannie Mae and Freddie Mac (the “Enterprises”) fell to 1.16 percent at the end of the third quarter of this year.
  • Overall, the Enterprises completed 46,390 foreclosure prevention actions in the third quarter.
  • The number of 60+ days delinquent loans declined 3 percent to 421,765 at the end of the third quarter.

Black Knight Financial Services’ First Look at November 2016 mortgage data:

 

  • The delinquency rate was up by 2.55 percent month-over-month.
  • However, the rate was down 9.43 percent year-over-year.
  • The number of loans in active foreclosure dropped below 500,000 for the first time in nearly 10 years.

bkfs_first_look_nov2016_chart01

 

Mortgage rates:

 

Home equity rates:

Most recent market news:

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).

november_ehs_infographic

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.

Email market reports to press@inman.com.