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Daily market update: February 23, 2017

02/22/2017

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We’ll add more market news briefs throughout the day. Check back to read the latest.

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. 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 Most recent market news:

National Association of Realtors’ Existing-Home Sales for January 2017:

Total existing-home sales expanded 3.3 percent to a seasonally adjusted annual rate of 5.69 million in January from an upwardly revised 5.51 million in December 2016. This is 3.8 percent higher than a year ago (5.48 million). January also surpasses November 2016 (5.60 million) as the strongest month since February 2007 (5.79 million).

Mortgage Bankers Association’s Weekly Applications Survey:

Mortgage applications decreased 2.0 percent from one week earlier for the week ending February 17, 2017. The refinance share of mortgage activity decreased to 46.2 percent of total applications, the lowest level since November 2008, from 46.9 percent the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balance increased to 4.36 percent from 4.32 percent.

CoreLogic Market Pulse Report for February 2017:

Home prices were up 7.2 percent in December 2016. The cash sales share in October 2016 was 31.8 percent. The distressed sales share in October 2016 was 7.7 percent.

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