Markets & Economy

Daily market update: January 16, 2017

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

Mortgage rates:

 

Home equity rates:

Most recent market news:

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.

foreclosure_activity_rates_annual_2016

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

  • 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:

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  • 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.

pmms_chart_lg-1

Email market reports to press@inman.com.