Markets & Economy

Daily market update: January 4, 2017

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

Mortgage Banker’s Association’s Weekly Applications Survey:

  • Mortgage applications decreased 12 percent from two weeks earlier for the week ending December 30, 2016.
  • The Refinance Index decreased 22 percent from two weeks ago.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.39 percent from 4.45 percent.

Mortgage rates:

 

Home equity rates:

Most recent market news:

CoreLogic Home Price Insights for November 2016:

  • The CoreLogic home price index (HPI) was up 1.1 percent month-over-month in November 2016.
  • The HPI was up 7.1 percent year-over-year.
  • CoreLogic forecasts home prices to rise 4.7 percent year-over-year from 2016 to 2017.

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U.S. Census Bureau’s November 2016 construction report:

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  • Construction spending during November was at a seasonally adjusted annual rate of $1,182 billion.
  • This is 0.9 percent above the revised October rate of $1,171.4 billion.
  • November’s number is also 4.1 percent above the November 2015 estimate.

Email market reports to press@inman.com.