Real estate market recap, Oct. 19-23, 2015

Check Inman every day for the daily version of this market roundup.

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”]

Friday, Oct. 23:

CoreLogic’s July 2015 cash sale shares:

• Cash sales comprised 30.8 percent of total home sales in July 2015, down from 34.2 percent in July 2014.
• Month-over-month, the share of cash sales fell by 0.5 percentage points.
• Prior to the housing crisis, the cash sales share of total home sales was about 25 percent; CoreLogic estimates if the share continues to fall, it should hit 25 percent by mid-2017.

Black Knight Financial Services’ “first look” at September 2015 mortgage data:

• The mortgage delinquency rate was up 1.7 percent month-over-month in September 2015.
• Overall non-current inventory (with loans 30 or more days past due or in foreclosure) is 3.2 million.
• Foreclosure and 90-day delinquent inventories continue to improve despite rise in delinquency rate.

Campbell/Inside Mortgage Finance HousingPulse Tracking Survey:

• Prices on non-distressed properties hit $296,700 in September 2015.
• Prices on non-distressed properties were up 8.6 percent year-over-year in September.
• The average sale-to-list price ratio for non-distressed properties was 97.8 percent in September, up from 97.5 percent in September 2014.

Thursday, Oct. 22:

First American’s Existing-Home Sales Capacity (EHS-C) for September 2015:

• The EHS-C rate decreased by 0.1 percent month-over-month in September 2015 and 3.6 percent year-over-year.
• The seasonally adjusted annualized rate of existing-home sales capacity is up 77.1 percent from February 2009, the lowest point recorded by First American.
• Existing-home sales spiked in July, dropped in August and rebounded in September.

The National Association of Realtors’ existing-home sales report for September 2015:

• Total existing-home sales increased 4.7 percent month-over-month in September 2015.
• The median existing-home price increased 6.1 percent year-over-year.
• Total housing inventory decreased 2.6 percent month-over-month and 3.1 percent year-over-year.

Freddie Mac’s Primary Mortgage Market Survey:

• 30-year fixed-rate mortgages (FRMs) averaged 3.79 percent with an average 0.6 point for the week ending October 22, 2015; this is down from 3.82 percent the previous week and 3.92 percent the previous year.
• 15-year FRMs averaged 2.98 percent with an average 0.5 point, down from 3.03 percent the previous week and 3.08 percent the previous year.
• 5-year Treasury-indexed hybrid adjustable-rate mortgages averaged 2.89 percent with an average 0.4 point, up from 2.88 percent the previous week and down from 2.91 percent the previous year.

Federal Housing Finance Agency’s August 2015 House Price Index:

• Prices for homes rose 0.3 percent month-over-month in August 2015.
• Home prices in August 2015 were up 5.5 percent year-over-year.
• The index is roughly the same as its December 2006 level.

Realtytrac U.S. Home Equity & Underwater report for Q3:

• The number of seriously underwater homeowners dropped significantly in the third quarter of 2015 due to rising home sales volumes and prices.
• The number of equity rich homeowners went down, at the same time, as more homeowners leveraged their equity and refinanced, traded up or cashed out completely.
• Only one in three properties in foreclosure was seriously underwater, the lowest level since RealtyTrac began tracking in the Q1 2012 and down from a peak of 62 percent underwater in the second quarter of 2012.

HOPE NOW’s August 2015 foreclosure sales report:

• Foreclosure activity is at its lowest level since 2007, when the organization began collecting data.
• Foreclosure sales decreased 7 percent month-over-month in August 2015.
• Foreclosure sales decreased 23 percent year-over-year in August 2015.

The Houzz third-quarter renovation index:

• Landscape specialty firms have reported a quarterly activity decrease of 21 percent.
• General contractors, remodelers and design-build firms are in the shortest supply.
• Year-over-year gains continue across all industry groups, though.

Wednesday, Oct. 21:

Mortgage Banker’s Association’s Weekly Applications Survey:

• The Market Composite Index increased 11.8 percent week-over-week on a seasonally adjusted basis.
• The Refinance Index increased 9 percent week-over-week.
• The seasonally adjusted Purchase Index increased 16 percent week-over-week.

Weiss Residential Research’s August 2015 appreciation/depreciation report:

• The national percentage of depreciating homes rose from 23.40 percent in July 2015 to 27.0 percent in August.
• The national percentage of appreciating homes rose slightly from 56.8 percent in July 2015 to 59.3 percent in August.
• Flint, Michigan, was a top market by appreciation percentage; Hickory-Lenoir-Morganton, North Carolina, was a top market by depreciation percentage.

Ellie Mae’s September 2015 loan origination insights report:

• Average credit scores for closed loans fell to an average FICO score of 723, the lowest since Ellie Mae began reporting data in August 2011.
• Refinance activity represented 42 percent of overall loan volume.
• Credit availability on refinances appears to have increased in the third quarter of 2015.

Tuesday, Oct. 20:

Mortgage Bankers Association’s 2016 forecast:

• The Mortgage Bankers Association (MBA) expects $905 billion in purchase mortgage originations during 2016.
• MBA also predicts that refinance originations will comprise $415 billion in 2016, a decrease of one-third.
• Mortgage originations will decrease to $1.32 trillion in 2016 compared with $1.45 trillion in 2015.

The U.S. Census Bureau and U.S. Department of Housing and Urban Development’s September 2015 new residential construction report:

• Privately-owned housing units authorized by building permits in September 2015 were 5.0 percent below the revised August 2015 rate but 4.7 percent above September 2014.
• Privately-owned housing starts were 6.5 percent above the revised August 2015 estimate and 17.5 percent above the September 2014 rate.
• Single-family housing starts in September 2015 were up 0.3 percent month-over-month.

Auction.com’s list of the hottest single-family residential markets this fall:

• Seattle was listed as the hottest market because of the city’s tech sector, which is seen as driving employment.
• Fort Lauderdale was next, attributed to growth in employment and a recovering housing market.
• Orlando was third, with a thriving leisure and hospitality industry.

Monday, Oct. 19:

 

BuildZoom and Urban Economic Lab Index:

• Existing-home remodeling declined 3.2 percent last quarter but is 2.8 percent above its 2005 level.
• New-home construction increased 18.67 percent last quarter. It is still 57 percent below its 2005 level.
• Remodeling is up almost 300 percent in Las Vegas.

Email market updates to press@sandbox.inman.com.