Check Inman every day for the daily version of this market roundup.
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”]
Day-by-day market activity
Friday, March 10
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 4.21 percent with an average 0.5 point for the week ending March 9, 2017.
- This is up from last week when it averaged 4.10 percent.
- A year ago at this time, the 30-year FRM averaged 3.68 percent.
Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for February 2017:
- The MCAI increased 0.4 percent to 177.8 in February.
- Of the four component indices, the Government MCAI saw the greatest increase in availability over the month (up 2.3 percent), followed by the Conforming MCAI (up 0.1 percent).
- The Conventional MCAI decreased 2.2 percent while the Jumbo MCAI decreased 4.4 percent.
CoreLogic’s Homeowner Equity Report for Q4 2016:
- 62,000 homes regained equity in Q4 2016.
- 15 percent of properties with a mortgage are considered “under-equitied” — with less than 20 percent equity.
- 6.2 percent of mortgaged homes have negative equity.
Attom Data Solutions Year-End 2016 Home Flipping Report:
- 193,009 single family homes and condos were flipped in 2016, up 3.1 percent from 2015.
- This is the highest level since 2006, when 276,067 single family homes and condos were flipped.
- Home flips in 2016 accounted for 5.7 percent of all single family home and condos sales during the year, up from 5.5 percent in 2015.
Thursday, March 9
Mortgage Bankers Association’s Weekly Applications Survey:
- Mortgage applications increased 3.3 percent from one week earlier for the week ending March 3, 2017.
- The Refinance Index increased 5 percent from the previous week to the highest level since December 2016.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 4.36 percent from 4.30 percent.
Housing Tides February 2017 Monthly Pulse:
- The March Housing Tides Index shows an increase to 73.6 after falling slightly to 72.4 in February.
- The Index is up from 73.4 in March 2016.
- The Housing Tides Index scores increased in 33 of the top 41 local markets this month.
Wednesday, March 8
CoreLogic’s Home Price Insights for January 2017:
- Home prices went up 6.9 percent between January 2016 and January 2017.
- From December 2016 to January 2017, home prices rose 0.7 percent.
- CoreLogic forecasts a 0.1 percent month-over-month change and 4.8 percent year-over-year change from January 2017.
Fannie Mae’s Home Purchase Sentiment Index (HPSI) for February 2017:
- The HPSI increased in February to 88.3.
- This is 5.6 percentage points higher than January 2017.
- The HPSI is also up 5.6 percentage points compared with February 2016.
Tuesday, March 7
Freddie Mac’s Primary Mortgage Market Rate:
- The 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending March 2, 2017.
- This is down from last week when it averaged 4.16 percent.
- A year ago at this time, the 30-year FRM averaged 3.64 percent.
Ellie Mae’s Millennial Tracker data for January 2017:
- Millennial borrowers for new home purchases accounted for 84 percent of closed loans according in January 2017.
- In December, 82 percent of closed mortgages were for new home purchases, up from 77 percent from August through November.
- It took millennials an average 49 days to close on their loans in January, a day longer than in November and December
Attom Data Solutions Q4 2016 Loan Origination Report:
- More than 1.7 million (1,748,177) loans were originated on U.S. residential properties (1 to 4 units) in Q4 2016, down 15 percent from the previous quarter but up 2 percent from 2015.
- More than 7.3 million loans were originated in 2016, up 2 percent from 2015 to the highest total since 2013.
- Total dollar volume of loan originations in the fourth quarter increased 8 percent from a year ago to more than $461 billion ($461,291,961,501).
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