Markets & Economy

Daily market update: February 3, 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:

Freddie Mac’s Primary Mortgage Market Survey:

  • The 30-year fixed-rate mortgage (FRM) averaged 4.19 percent with an average 0.5 point for the week ending Feb. 2, 2017.
  • The rate is unchanged from last week.
  • A year ago at this time, the 30-year FRM averaged 3.72 percent.

Attom Data Solutions Year-End 2016 Home Sales Report:

  • 16.2 percent of single family home and condo sales in 2016 were distressed sales, which is down from 18.8 percent of all sales in 2015 to the lowest level since 2007, a nine-year low. 
  • Among 193 metropolitan statistical areas with a population of 200,000 or more and at least 100 distressed sales in 2016, those with the highest share of total distressed sales were Atlantic City, New Jersey (43.8 percent); Hagerstown-Martinsburg, Maryland-West Virginia (33.2 percent); Rockford, Illinois (29.2 percent); Montgomery, Alabama (29.2 percent); and Baltimore, Maryland (28.0 percent).
  • Bank-owned (REO) sales accounted for 8.0 percent of all sales in 2016, down from 10.0 percent in 2015 to the lowest level since 2006 — a 10-year low.

Email market reports to press@inman.com.

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