We’ll add more market news briefs throughout the day. Check back to read the latest.
Federal Housing Finance Agency’s House Price Index for November 2016:
- U.S. house prices rose in November, up 0.5 percent on a seasonally adjusted basis from the previous month.
- The previously reported 0.4 percent increase in October was revised downward to a 0.3 percent increase.
- From November 2015 to November 2016, house prices were up 6.1 percent.
Mortgage Bankers Association’s Weekly Applications Survey:
- Mortgage applications increased 4.0 percent from one week earlier for the week ending January 20, 2017.
- The refinance share of mortgage activity decreased to 50.0 percent of total applications, the lowest level since July 2015, from 53.0 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 4.35 percent from 4.27 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”]
Most recent market news:
National Association of Realtors Existing-Home Sales for December 2016:
- Total existing-home sales finished 2016 at 5.45 million sales.
- In December, existing sales decreased 2.8 percent to a seasonally adjusted annual rate of 5.49 million in December from an upwardly revised 5.65 million in November.
- With last month’s slide, sales are only 0.7 percent higher than a year ago.
Pro Teck Valuation Services Home Value Forecast:
- Months of remaining inventory (MRI) — the current number of active listings divided by the monthly sales rate — is around 6 months in a balanced market.
- Communities with an MRI under 3 have jumped from 12.7 percent in December 2015 to 20.63 percent in December 2016 — a 62.44 percent increase.
- In December 2014, this number was 9.17 percent — there’s been a 125-percent increase in communities with a dramatic shortage of homes for sale since December 2014.
Email market reports to press@inman.com.
