Last week was a good time for real estate. Below you will find some great information from inman news concerning the the real estate market. Now is a great time to purchase your personal home or investment properties. If you have any questions feel free to contact our corporate office at 404-559-0332 x101.
Check Inman every day for the daily version of this market roundup.
Home equity rates:
Day-by-day market activity
Thursday, December 8:
- There were a total of 45,718 single family home and condo sale flips in the third quarter of 2016.
- This represents 5.1 percent of all single family and condo sales during the quarter.
- The 5.1 percent Q3 2016 home flipping rate was down from a 5.6 percent rate in the previous quarter and unchanged from Q3 2015.
- The 30-year mortgage rate averaged 4.13 percent with an average 0.5 point for the week ending December 8, 2016.
- This is up from last week when it averaged 4.08 percent.
- A year ago at this time, the 30-year FRM averaged 3.95 percent.
- 384,000 residential properties regained equity in Q3 2016.
- 6.3 percent of mortgaged homes were in negative equity in Q3.
- The value of homes in negative equity was estimated to be $281.9 billion.
Wednesday, December 7:
- Mortgage applications decreased 0.7 percent week-over-week for the week ending Dec. 2, 2016.
- The refinance share of mortgage activity increased to 56.2 percent of total applications from 55.1 percent the previous week.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances increased to its highest level since October 2014, 4.27 percent, from 4.23 percent last week.
- The HPSI decreased in November 2016 for the fourth consecutive month to 81.2.
- This is down 0.5 points from October 2016.
- The share of consumers expecting mortgage rates to go down over the next year and those who believe now is a good time to sell a home both fell 6 percentage points.
Tuesday, December 6:
- The home price index was up 1.1 percent month-over-month in October 2016.
- The index was also up 6.7 percent year-over-year.
- National home prices (including distressed sales) are expected to rise 4.6 percent year-over-year in October 2017.
Monday, December 5:
- There was a rise in 30+-day delinquencies in October 2016, which pushed the national delinquency rate to 4.35 percent.
- The overall foreclosure rate fell to below 1 percent for the first time since July 2007.
- October saw the lowest number of foreclosure starts since January 2005.
- Mortgage credit availability increased in November to 174.1.
- This is a 1.6 percent increase over October 2016.
- Of the four component indices, the Conforming MCAI saw the greatest increase in availability over the month (up 2.2 percent), followed by the Government MCAI (up 1.8 percent), the Conventional MCAI (up 1.5 percent), and the Jumbo MCAI (up 0.8 percent).
For more great information please visit our website www.platinumrealestate.com.
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