Daily market update: January 18, 2017

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

Mortgage Bankers Association’s Weekly Applications Survey:

  • Mortgage applications increased 0.8 percent from one week earlier for the week ending January 13, 2017.
  • The refinance share of mortgage activity increased to 53.0 percent of total applications from 51.2 percent the previous week.
  • The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to its lowest level since December 2016, 4.27 percent, from 4.32 percent.

January 2017 Re/Max Market Report:

  • The median sales price of $216,000 was 4.9 percent above one year ago and 1.8 percent below November’s.
  • Inventory declined 17.9 percent year-over-year in December.
  • The average days on market of 62 was the lowest of any December in the report’s history.

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.


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:

  • 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.


Email market reports to press@inman.com.