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Daily market update: March 1, 2017

02/28/2017

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

Mortgage Bankers Association’s Weekly Applications Survey:

Mortgage applications increased 5.8 percent from one week earlier for the week ending February 24, 2017. The refinance share of mortgage activity decreased to 45.1 percent of total applications, its lowest level since November 2008, from 46.2 percent the previous week. The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances decreased to 4.30 percent from 4.36 percent.

U.S. Census Bureau Monthly Construction Spending for January 2017:

Construction spending during January 2017 was estimated at a seasonally adjusted annual rate of $1,180.3 billion. This is 1.0 percent below the revised December estimate of $1,192.2 billion. The January figure is 3.1 percent above the January 2016 estimate of $1,144.9 billion.

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:

S&P CoreLogic Case-Shiller Home Price Index for December 2016:

The National Home Price Index increased 5.8 percent year-over-year in December 2016. This is the 56th consecutive month of positive gains and the largest since June 2014. December was also the sixth consecutive month in which the year-over-year figure increased over the previous month.

Federal Housing Finance Agency’s Mortgage Rate Report for January 2017:

The average interest rate on all mortgage loans was 4.17 percent. This is up 26 basis points from 3.91 in December. The average loan amount for all loans was $305,400 in January, down $13,700 from $319,100 in December.

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