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- Mortgage applications increased 3.1 percent from one week earlier for the week ending March 10, 2017.
- The refinance share of mortgage activity increased to 45.6 percent of total applications from 45.4 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to its highest level since April 2014, 4.46 percent, from 4.36 percent.
- Home loans for purchases increased to 57 percent in February, up from 53 percent in January.
- The average time to close all loans decreased to 46 days in February, down from 51 days in January.
- Average FICO scores dropped with the average FICO score on all closed loans at 720.
Home equity rates:
Most recent market news:
- 2.6 percent of all mortgages were in serious delinquency (90+ days past due and in foreclosure) in December 2016.
- This represents about 1 million homes.
- The peak serious delinquency involved 3.7 million homes in 2010.
- Mortgage applications for new home purchases increased 2.2 percent compared to February 2016.
- Compared to January 2017, applications increased by 16 percent relative to the previous month.
- Confidence for transaction volume growth over the next 12 months increased 0.4 percent from Q4 2016 and increased 0.63 percent compared with a year ago.
- Confidence for growth in purchase transaction volume over the next 12 months increased 6.5 percent from last quarter and 3.7 percent compared with a year ago.
- Prices across all property types are expected to grow by 2.5 percent over the next 12 months, which is up from last quarter’s expectation of a 1.7 percent increase.
- According to the HPPI, appraised values were 1.69 percent less than what homeowners estimated in February.
- In January, appraiser opinions were 1.47 percent lower than homeowner expectations.
- Home values rose 0.55 percent from January to February, according to the National HVI, and increased 2.95 percent compared to the previous February.
- 61 percent of current homeowners are satisfied with the state of the U.S. economy today, a 13 percent increase from the last wave of the survey (fielded shortly before the December interest rate announcement).
- 84 percent of current homeowners and 81 percent of prospective homeowners agree that increasing interest rates are a challenge facing the real estate market today, a 7 percent and 3 percent increase from the last wave of the survey, respectively.
- If mortgage rates were to go up, 39 percent of current homeowners and 65 percent of prospective homeowners say they are more likely to feel anxious, rather than indifferent about such a hike.
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