Markets & Economy

Real estate market recap, January 16-20, 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:

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:

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  • 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.

Wednesday, January 18:

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 news to press@inman.com.