We’ll add more market news briefs throughout the day. Check back to read the latest.
Mortgage Bankers Association’s Weekly Applications Survey:
- The Market Composite Index decreased 0.8 percent week-over-week.
- The Refinance Index decreased 1.0 percent week-over-week.
- The seasonally adjusted Purchase Index decreased 1.0 percent week-over-week.
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”]
Yesterday’s most recent market news:
First American’s Homeownership Progress Index:
- The inaugural Homeownership Progress Index (HPRI) fell 1.6 percent in 2014 from an index value of 68 in 2013.
- The index is currently 7 percent above the 1994 low point of homeownership.
- Washington, D.C., homeownership levels have increased the most — 155.0 percent.
U.S. Census Bureau’s September 2015 Construction report:
- Construction spending during September 2015 was estimated at $1,094.2 billion (seasonally adjusted rate).
- This is 0.6 percent above the revised August 2015 estimate and 14.1 percent above the September 2014 estimate.
- Spending on private construction was at $794.2 billion, 0.6 percent above the revised August estimate.
CoreLogic September 2015 Home Price Index report:
- Home prices nationwide — including distressed sales — increased by 6.4 percent year-over-year in September 2015.
- Home price increases have been stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase.
- The number of overvalued top markets doubled from the first quarter to the second quarter.
ApartmentList’s October 2015 rent report:
- Nationwide, rent increased by 4.2 percent for a one-bedroom and 3.2 percent for a two-bedroom year-over-year- in October 2015.
- Rent increased 0.1 percent month-over-month for both one-bedroom and two-bedroom units.
- San Francisco, New York and Washington, D.C., were the three cities with the highest rent.
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