We’ll add more market news briefs throughout the day. Check back to read the latest.
RealtyTrac’s U.S. Zombie Foreclosure and Vacant Property Report:
- A “zombie foreclosure” happens when a homeowner moves out of the home after foreclosure proceedings have started, but then the foreclosure is held up in some way or canceled, leaving the title in the homeowner’s name.
- This phenomenon is on the decline. A RealtyTrac report shows that 20,050 properties were vacant zombie homes at the end of the third quarter.
- That’s a decrease of 27 percent since the second quarter, and 43 percent from the same quarter last year.
Weekly mortgage rates:
Powered by MortgageCalculator.org
Powered by MortgageCalculator.org
Yesterday’s market news:
Mortgage Bankers Association’s weekly applications survey:
- The Market Composite Index, which measures mortgage loan application volume, increased 25.5 percent week-over-week on a seasonally adjusted basis. (It increased 26 percent on an unadjusted basis.)
- The Refinance Index increased 24 percent week-over-week.
- The seasonally adjusted Purchase Index increased 27 percent week-over-week.
Fannie Mae’s Home Purchase Sentiment Index:
- The index increased to 3 points to 83.8 in September.
- The share of respondents who said it is a good time to buy a house increased 1 percentage point to 64 percent.
- The share of respondents who say it is a good time to sell increased 5 percentage points to 52 percent.
Send market reports to press@inman.com.
