Markets & Economy

Real estate market recap, January 9-13, 2017

The big news in real estate markets, recapped for your convenience

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Check Inman every day for the daily version of this market roundup.

Mortgage rates:

Home equity rates:

 

Day-by-day market activity

Thursday, January 12:

Attom Data Solutions Year-End 2016 Foreclosure Market Report:

  • Foreclosure filings (default notices, scheduled auctions and bank repossessions) were reported on 933,045 U.S. properties in 2016.
  • This is down 14 percent from 2015 to the lowest level since 2006, when there were 717,522 U.S. properties with foreclosure filings.
  • The report also shows that 0.70 percent of all U.S. housing units had at least one foreclosure filing in 2016, the lowest annual foreclosure rate nationwide since 2006.

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Mortgage Banker’s Association’s Builder Applications Survey for December 2016:

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  • Mortgage applications for new home purchases increased 2 percent relative to December 2015.
  • Compared to November 2016, applications decreased by 14 percent relative to the previous month.
  • This change does not include any adjustment for typical seasonal patterns.

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.12 percent with an average 0.5 point for the week ending January 12, 2017.
  • This is down from last week when it averaged 4.20 percent.
  • A year ago at this time, the 30-year FRM averaged 3.92 percent.

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Wednesday, January 11:

Mortgage Banker’s Association’s Weekly Applications Survey:

  • Mortgage applications increased 5.8 percent from one week earlier for the week ending January 6, 2017.
  • The refinance share of mortgage activity decreased to 51.2 percent of total applications from 52.2 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.32 percent from 4.39 percent.

Tuesday, January 10:

CoreLogic National Foreclosure Report for November 2016:

  • The foreclosure inventory in November 2016 was down 2.4 percentage points from October 2016.
  • This indicates a 25.9 percent year-over-year decline.
  • There were 26,000 foreclosures completed in November 2016.

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Quicken Loans Home Price Perception Index (HPPI) for December 2016:

  • The national HPPI shows appraised values were 1.33 percent lower than homeowners estimated in December 2016.
  • This indicates a widening of opinions between appraisers and homeowners.
  • Home values fell 1.19 percent in December, but increased 3.85 percent year-over-year.

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National Housing Tides Index for January 2017:

  • The Housing Tides Index rose from 72.8 in December to 73.3 in January.
  • The ratio of U.S. housing permits to changes in total employment improved for the year ending October 2016.
  • However, at a ratio of 0.46 housing permits per new job created, housing production remains too low to meaningfully slow price increases or return to a balanced inventory level.

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Monday, January 9:

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for December 2016:

  • The HPSI decreased again in December by 0.5 percentage points to 80.7.
  • The HPSI is down 2.5 percentage points compared with the same time last year.
  • The net share of Americans who say it is a good time to buy a house rose by 2 percentage points to 32 percent; the net percentage of those who say it is a good time to sell was unchanged from the prior month at 13 percent.

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