Check Inman every day for the daily version of this market roundup.
[graphiq id=”b2w6fmfIyNL” title=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/b2w6fmfIyNL” link=”http://mortgage-lenders.credio.com” link_text=”30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
[graphiq id=”2NvK9Bl9HIF” title=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months” width=”600″ height=”400″ url=”https://w.graphiq.com/w/2NvK9Bl9HIF” link=”http://mortgage-lenders.credio.com” link_text=”15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio”]
Home equity rates:
[graphiq id=”c0eKOcwwRlX” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”468″ url=”https://w.graphiq.com/w/c0eKOcwwRlX” link=”http://mortgage-lenders.credio.com” link_text=”Credio | Graphiq” ]
Day-by-day market activity
Thursday, January 12:
- 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.
- 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.
- 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.
Wednesday, January 11:
- 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:
- 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.
- 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.
- 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.
Monday, January 9:
- 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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