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- Sales of new single-family houses in January 2017 were at a seasonally adjusted annual rate of 555,000, 3.7 percent above the revised December rate of 535,000 and 5.5 percent above the January 2016 estimate of 526,000.
- The median sales price of new houses sold in January 2017 was $312,900. The average sales price was $360,900.
- The seasonally adjusted estimate of new houses for sale at the end of January was 265,000. This represents a supply of 5.7 months at the current sales rate.
First American Financial Services’ January 2017 Loan Application Defect Index:
- The frequency of defects, fraudulence and misrepresentation in the information submitted in mortgage loan applications increased 5.8 percent in January 2017 over December 2016.
- Compared to January 2016, the Defect Index decreased by 3.9 percent.
- The Defect Index is down 28.4 percent from the high point of risk in October 2013.
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:
Freddie Mac’s Primary Mortgage Market Survey:
- The 30-year fixed-rate mortgage (FRM) averaged 4.16 percent with an average 0.5 point for the week ending Feb. 23, 2017.
- This is up from last week when it averaged 4.15 percent.
- A year ago at this time, the 30-year FRM averaged 3.62 percent.
Federal Housing Finance Agency’s House Price Index for Q4 2016:
- U.S. house prices rose 1.5 percent in Q4 2016 from Q3 2016.
- House prices rose 6.2 percent year-over-year in Q4 2016.
- FHFA’s seasonally adjusted monthly index for December was up 0.4 percent from November.
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