We’ll add more market news briefs throughout the day. Check back to read the latest.
Mortgage Bankers Association’s 2016 forecast:
- The Mortgage Bankers Association (MBA) expects $905 billion in purchase mortgage originations during 2016.
- MBA also predicts that refinance originations will comprise $415 billion in 2016, a decrease of one-third.
- Mortgage originations will decrease to $1.32 trillion in 2016 compared with $1.45 trillion in 2015.
- Privately-owned housing units authorized by building permits in September 2015 were 5.0 percent below the revised August 2015 rate but 4.7 percent above September 2014.
- Privately-owned housing starts were 6.5 percent above the revised August 2015 estimate and 17.5 percent above the September 2014 rate.
- Single-family housing starts in September 2015 were up 0.3 percent month-over-month.
Auction.com’s list of the hottest single-family residential markets this fall:
- Seattle was listed as the hottest market because of the city’s tech sector, which is seen as driving employment.
- Fort Lauderdale was next, attributed to growth in employment and a recovering housing market.
- Orlando was third, with a thriving leisure and hospitality industry.
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”]
Yesterday’s most recent market news:
BuildZoom and Urban Economic Lab Index:
- Existing-home remodeling declined 3.2 percent last quarter but is 2.8 percent above its 2005 level.
- New-home construction increased 18.67 percent last quarter. It is still 57 percent below its 2005 level.
- Remodeling is up almost 300 percent in Las Vegas.
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