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National Association of Realtors’ Pending Home Sales for January 2017:
The Pending Home Sales Index decreased 2.8 percent to 106.4 in January from an upwardly revised 109.5 in December 2016. January’s index reading is 0.4 percent above last January, but it is the lowest since then. Existing-home sales are forecast to be around 5.57 million this year, an increase of 2.2 percent from 2016 (5.45 million).
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: 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.
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