Markets & Economy

Daily market update: December 27, 2016

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

Federal Housing Finance Agency’s mortgage rates for November 2016:

  • The index for the average contract mortgage rate for previously occupied homes by combined lenders Index was 3.66 percent for loans closed in late November, up 4 basis points from 3.62 percent in October.
  • The average interest rate on all mortgage loans was 3.64 percent, up 4 basis points from 3.60 in October.
  • The average loan amount for all loans was $314,700 in November, up $2,000 from $312,700 in October.

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First American Real House Price Index for October 2016:

  • Real house prices increased 0.7 percent between September 2016 and October 2016.
  • Compared to September 2015, real house prices decreased by 0.4 percent.
  • Unadjusted house prices are expected to increase by 5.3 percent in October on a year-over-year basis.

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Mortgage rates:

 

Home equity rates:

Most recent market news:

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

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  • Sales of new single-family houses in November 2016 were at a seasonally adjusted annual rate of 592,000.
  • This is 5.2 percent above the revised October rate of 563,000 and is 16.5 percent above the November 2015 estimate of 508,000.
  • The median sales price of new houses sold in November 2016 was $305,400; the average sales price was $359,900.

Email market reports to press@inman.com.