- Privately-owned housing starts in August were at a seasonally adjusted annual rate of 1,142,000, according to a report released by the U.S. Census Bureau and the U.S. Department of Housing and Urban Development. This is 5.8 percent below the revised July estimate of 1,212,000, but is 0.9 percent above the August 2015 rate of 1,132,000.
- Small, mortgage applications ticked up 2.9 percent from one week earlier, according the Mortgage Bankers Association’s latest Weekly Mortgage Applications Survey for the week ending Sept. 30.
- The refinance share of mortgage activity edged up to 63.8 percent of total applications, increasing from 62.7 percent the previous week. The adjustable-rate mortgage share of activity increased to 4.5 percent of total applications.
- The average contract interest rate for 30-year fixed-rate mortgages with conforming loan balances ($417,000 or less) decreased from 3.66 percent to 3.62 percent, marking the lowest level since July 2016.
- The average contract interest rate for 30-year fixed-rate mortgages with jumbo loan balances (greater than $417,000) decreased to 3.6 percent from 3.64 percent.