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”]
Thursday, Nov. 5:
RealtyTrac’s Q3 Home Sales Report:
- The average price gain for sold homes in the third quarter of 2015 was $40,658.
- This is the highest average price gain since Q3 2007.
- The average sale price of single-family homes and condos was up 0.2 percent from the previous quarter and up 2.4 percent year-over-year.
Mortgage Bankers Association’s October 2015 Mortgage Credit Availability Index (MCAI):
- The MCAI increased 1.5 percent to 128.4 in October 2015.
- The Conforming MCAI saw the greatest loosening, up 2.7 percent month-over-month.
- The Government MCAI was up 1.9 percent.
Zillow’s mortgage application research:
- The denial rate for 2014 conventional mortgage applications was 11.2 percent, down 1.2 percent from 12.4 percent in 2013.
- For black applicants, the denial rate fell from 27.6 percent in 2013 to 23.5 percent in 2014 — a 4.1-percent drop.
- For white applicants, the denial rate fell from 10.4 percent in 2013 to 9.4 percent in 2014 — a 1.0-percent drop.
Mortgage Bankers Association’s Weekly Applications Survey:
- The Market Composite Index decreased 0.8 percent week-over-week.
- The Refinance Index decreased 1.0 percent week-over-week.
- The seasonally adjusted Purchase Index decreased 1.0 percent week-over-week.
Tuesday, Nov. 3: First American’s Homeownership Progress Index:
- The inaugural Homeownership Progress Index (HPRI) fell 1.6 percent in 2014 from an index value of 68 in 2013.
- The index is currently 7 percent above the 1994 low point of homeownership.
- Washington, D.C., homeownership levels have increased the most — 155.0 percent.
U.S. Census Bureau’s September 2015 Construction report:
- Construction spending during September 2015 was estimated at $1,094.2 billion (seasonally adjusted rate).
- This is 0.6 percent above the revised August 2015 estimate and 14.1 percent above the September 2014 estimate.
- Spending on private construction was at $794.2 billion, 0.6 percent above the revised August estimate.
CoreLogic September 2015 Home Price Index report:
- Home prices nationwide — including distressed sales — increased by 6.4 percent year-over-year in September 2015.
- Home price increases have been stable for the last 15 months, ranging between a 4.8 percent and 6.5 percent year-over-year increase.
- The number of overvalued top markets doubled from the first quarter to the second quarter.
- Nationwide, rent increased by 4.2 percent for a one-bedroom and 3.2 percent for a two-bedroom year-over-year- in October 2015.
- Rent increased 0.1 percent month-over-month for both one-bedroom and two-bedroom units.
- San Francisco, New York and Washington, D.C., were the three cities with the highest rent.
Monday, Nov. 2:
Black Knight Financial Services’ September Mortgage Monitor:
- Mortgage delinquencies rose 1.7 percent month-over-month in September 2015, which is normal.
- Overall prepayment speed is down 23 percent over the past three months, falling from 1.39 to 1.07 percent of outstanding balances.
- Completed foreclosure sales in Q3 were down 10 percent from Q2 2015 and at the lowest level since 2006.
Email market updates to press@sandbox.inman.com.
