Daily market update: January 19, 2017

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

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage averaged 4.09 percent with an average 0.5 point for the week ending Jan. 19, 2017.
  • This is down from last week when it averaged 4.12 percent.
  • A year ago at this time, the 30-year FRM averaged 3.81 percent.

U.S. Census Bureau/U.S. Department of Housing and Urban Development’s New Residential Construction for December 2016:

  • Privately-owned housing units authorized by building permits in December were at a seasonally adjusted annual rate of 1,210,000, 0.2 percent below the revised November rate but 0.7 percent above the December 2015 estimate.
  • Privately-owned housing starts in December were at a seasonally adjusted annual rate of 1,226,000, 11.3 percent above the revised November rate and 5.7 percent above the December 2015 rate.
  • Privately-owned housing completions in December were at a seasonally adjusted annual rate of 1,123,000, 7.9 percent below the revised November rate but 8.7 percent above the December 2015 rate.

Mortgage rates:

[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=”kPkTJrAnX5r” title=”Average Home Equity Loan Bank Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/kPkTJrAnX5r” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Bank Rates by State | Credio”]

[graphiq id=”dP0v3iYOnH” title=”Average Home Equity Loan Credit Union Rates by State” width=”600″ height=”465″ url=”https://w.graphiq.com/w/dP0v3iYOnH” link=”http://mortgage-lenders.credio.com” link_text=”Average Home Equity Loan Credit Union Rates by State | Credio”]

Most recent market news:

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.

Email market reports to press@inman.com.