We’ll add more market news briefs throughout the day. Check back to read the latest.
Re/Max’s December National Housing Report:
- November home sells fell by 1.4 percent year-over-year.
- Month-over-month, November sales fell by 22.6 percent.
- The median sales price was up year-over-year by 4.1 percent.
First American’s Potential Home Sales Model for November 2015:
- The market potential for existing-home sales decreased by 2.1 percent month-over-month.
- The Potential Home Sales Model decreased by 8.0 percent year-over-year.
- The model’s current underperformance gap is an estimated 147,000 (seasonally adjusted, annualized rate).
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 3.97 percent with an average 0.6 point for the week ending December 17 2015.
- This is up from last week, when the 30-year FRM averaged 3.95 percent.
- A year ago at this time, the 30-year FRM averaged 3.80 percent.
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”]
Last week’s most recent market news:
Ellie Mae’s Origination Insights Report for November 2015:
- The average time to close a loan increased to 49 days in November, up from 46 days in October.
- The average FICO score on closed loans was 721.
- Closing rates for all loans reached 68 percent.
- Privately owned housing units authorized by permits in November were at a seasonally adjusted rate of 1,289,000.
- This is 11.0 percent above the October rate and 19.5 percent above the November 2014 estimate.
- Single-family authorizations in November were at a rate of 723,000, up 1.1 percent month-over-month.
Mortgage Bankers Association’s Weekly Applications Survey:
- The market composite index of mortgage applications decreased 1.1 percent week-over-week for the week ending Dec. 11, 2015.
- The refinance index increased 1 percent week-over-week.
- The FHA share of total applications remained unchanged week-over-week from 14.0 percent.
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