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”]
Thursday, Dec. 10:
Mortgage Bankers Association’s Builder Application Survey for November 2015:
- Mortgage applications for new home purchases decreased 6 percent month-over-month.
- Conventional loans comprised 68.4 percent of loan applications, FHA loans comprised 18.1 percent, VA loans comprised 12.6 percent and RHS/USDA loans comprised 0.9 percent.
- The average loan size for new homes decreased from $320,881 to $320,854 month-over-month.
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage averaged 3.95 percent with an average 0.6 point for the week ending December 10, 2015, up 0.02 percent week-over-week.
- The 15-year fixed-rate mortgage averaged 3.19 percent with an average 0.5 point, up 0.03 percent week-over-week.
- The 5-year, Treasury-indexed hybrid adjustable-rate mortgage averaged 3.03 percent with an average 0.5 point, up 0.04 percent week-over-week.
Wednesday, Dec. 9:
Mortgage Bankers’ Association’s Weekly Applications Survey:
- The Market Composite Index increased 1.2 percent on a seasonally adjusted basis week-over-week.
- The refinance share of mortgage activity increased to 58.7 percent of total applications, up from 56.6 percent the previous week.
- The FHA share of total applications increased 0.8 percent week-over-week to 14.0 percent.
Tuesday, Dec. 8:
First American’s Real Estate Sentiment Index for Q4 2015:
- Title agents agree that sales transactions will increase for first-time homebuyers and “move up” buyers in the next year.
- Title agents believe that first-time homebuyers will be most impacted by a potential interest rate hike.
- Title agents believe that interest rates would need to creep up to 5.1 percent before primary residential transaction volumes are affected.
The latest Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI):
- The MCAI decreased 0.8 percent; it’s now 127.4.
- The Conventional MCAI was down 2.0 percent.
- The Conforming MCAI was down 1.0 percent.
CoreLogic’s October 2015 Foreclosure Report:
- Foreclosure inventory fell 21.5 percent year-over-year in October 2015.
- Foreclosures were down 12.3 percent from September 2015.
- This is the 48th straight month of decline.
Quicken’s November 2015 Home Price Perception Index:
- The average appraisal in November was 1.87 percent lower than what homeowners expected the value to be.
- November is the 10th consecutive month in which homeowner expectations of value exceeded the appraisers’ opinions.
- Average appraised home values rose 1.08 percent month-over-month and 4.84 percent year-over-year.
December 2015 preliminary Money Anxiety Index:
- The December index stands at 63.2.
- This is the same level as November 2015 but 5.8 index points lower than December 2014.
- Consumers seem to have mixed confidence about the economy.
- High loan-to-value purchase mortgage originations were up 20 percent year-over-year in the third quarter of 2015.
- 2015 residential home sales are up 4 percent from last year, and traditional sales are up 7 percent.
- Distressed sales (REO or short sale transactions) have declined by 13 percent year-over-year.
- The HPSI decreased 2.4 points to 80.8 in November.
- Consumers’ net attitudes about the direction of their household income relative to one year ago fell 5 points in November.
- The HPSI Good Time to Sell component fell 6 points, while Good Time to Buy increased 1 point.
