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Mortgage Bankers Association’s Weekly Applications Survey:
- Mortgage applications decreased 7.3 percent from one week earlier.
- The refinance share of mortgage activity increased to 63.1 percent of total applications from 62.9 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 3.70 percent from 3.67 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”]
[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”]
Most recent market news:
- Single-family housing unit authorizations in August were at a rate of 737,000, 3.7 percent above July 2016.
- Single-family housing starts in August were at a rate of 722,000, this is 6.0 percent below July.
- Single-family housing completions in August were at a rate of 752,000; 0.3 percent below July.
First American’s Potential Home Sales Model for August 2016:
- The market for existing-home sales is underperforming its potential by 5.6 percent.
- In August, the market potential for existing-home sales grew 1.08 percent month-over-month.
- Potential existing-home sales increased to 5.78 million, 91.9 percent above the December 2008 market bottom.
Email market reports to press@inman.com.