We’ll add more market news briefs throughout the day. Check back to read the latest.
Campbell/Inside Mortgage Finance HousingPulse Tracking Survey:
- Between September and January, the total average closing time (including delays) increased for six types of mortgage financing.
- The average closing time for purchase mortgages with a down payment of at least 20 percent backed by Fannie Mae or Freddie Mac increased 5 days from September to January.
- Most home purchases continue to close on time, but the scheduled closing time has increased.
Black Knight Financial Corp’s “first look” at January 2016 mortgage data:
- The total U.S. loan delinquency rate (30 or more days past due but not in foreclosure) was 5.09 percent, up 6.62 percent month-over-month but down 7.10 percent year-over-year.
- The total U.S. foreclosure pre-sale inventory rate was 1.30 percent, down 4.53 percent month-over-month and 25.69 percent year-over-year.
- Total foreclosure starts totaled 71,900, down 7.94 percent month-over-month and 22.94 percent year-over-year.
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:
Mortgage Bankers Association’s National Delinquency Survey:
- The delinquency rate for mortgage loans on one-to-four-unit residential properties dropped to a seasonally adjusted rate of 4.77 percent of all loans.
- This is the lowest level since the third quarter of 2006.
- Loans on which foreclosure actions were started comprised 0.36 percent of all loans, down two basis points quarter-over-quarter.
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 3.65 percent with an average 0.5 point for the week ending Feb. 18, 2016.
- This is unchanged from last week.
- One year ago, the 30-year FRM averaged 3.76 percent.
Email market reports to press@inman.com.
