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Real estate market recap, March 6-10

03/11/2017

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

Mortgage rates: 30-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio 15-Year Fixed Rate Mortgage Rates for the Past 6 Months | Credio Home equity rates: Average Home Equity Loan Bank Rates by State | Credio Average Home Equity Loan Credit Union Rates by State | Credio Day-by-day market activity

Friday, March 10

Freddie Mac’s Primary Mortgage Market Survey:

The 30-year fixed-rate mortgage (FRM) averaged 4.21 percent with an average 0.5 point for the week ending March 9, 2017. This is up from last week when it averaged 4.10 percent. A year ago at this time, the 30-year FRM averaged 3.68 percent.

Mortgage Bankers Association’s Mortgage Credit Availability Index (MCAI) for February 2017:

The MCAI increased 0.4 percent to 177.8 in February. Of the four component indices, the Government MCAI saw the greatest increase in availability over the month (up 2.3 percent), followed by the Conforming MCAI (up 0.1 percent). The Conventional MCAI decreased 2.2 percent while the Jumbo MCAI decreased 4.4 percent.

CoreLogic’s Homeowner Equity Report for Q4 2016:

62,000 homes regained equity in Q4 2016. 15 percent of properties with a mortgage are considered “under-equitied” — with less than 20 percent equity. 6.2 percent of mortgaged homes have negative equity.

Attom Data Solutions Year-End 2016 Home Flipping Report:

193,009 single family homes and condos were flipped in 2016, up 3.1 percent from 2015. This is the highest level since 2006, when 276,067 single family homes and condos were flipped. Home flips in 2016 accounted for 5.7 percent of all single family home and condos sales during the year, up from 5.5 percent in 2015.

Thursday, March 9

Mortgage Bankers Association’s Weekly Applications Survey:

Mortgage applications increased 3.3 percent from one week earlier for the week ending March 3, 2017. The Refinance Index increased 5 percent from the previous week to the highest level since December 2016. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to 4.36 percent from 4.30 percent.

Housing Tides February 2017 Monthly Pulse:

The March Housing Tides Index shows an increase to 73.6 after falling slightly to 72.4 in February. The Index is up from 73.4 in March 2016. The Housing Tides Index scores increased in 33 of the top 41 local markets this month.

Wednesday, March 8

CoreLogic’s Home Price Insights for January 2017:

Home prices went up 6.9 percent between January 2016 and January 2017. From December 2016 to January 2017, home prices rose 0.7 percent. CoreLogic forecasts a 0.1 percent month-over-month change and 4.8 percent year-over-year change from January 2017.

Fannie Mae’s Home Purchase Sentiment Index (HPSI) for February 2017:

The HPSI increased in February to 88.3. This is 5.6 percentage points higher than January 2017. The HPSI is also up 5.6 percentage points compared with February 2016.

Tuesday, March 7

Freddie Mac’s Primary Mortgage Market Rate:

The 30-year fixed-rate mortgage (FRM) averaged 4.10 percent with an average 0.5 point for the week ending March 2, 2017. This is down from last week when it averaged 4.16 percent. A year ago at this time, the 30-year FRM averaged 3.64 percent.

Ellie Mae’s Millennial Tracker data for January 2017:

Millennial borrowers for new home purchases accounted for 84 percent of closed loans according in January 2017. In December, 82 percent of closed mortgages were for new home purchases, up from 77 percent from August through November. It took millennials an average 49 days to close on their loans in January, a day longer than in November and December

Attom Data Solutions Q4 2016 Loan Origination Report:

More than 1.7 million (1,748,177) loans were originated on U.S. residential properties (1 to 4 units) in Q4 2016, down 15 percent from the previous quarter but up 2 percent from 2015. More than 7.3 million loans were originated in 2016, up 2 percent from 2015 to the highest total since 2013. Total dollar volume of loan originations in the fourth quarter increased 8 percent from a year ago to more than $461 billion ($461,291,961,501).

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