Today’s News Synopsis:

The latest home price index from S&P/Case-Shiller showed home prices in the U.S. increased 5.3% in August.  The FHFA also released their home price index, which showed a 5% increase in home values and them now being at their highest since their peak in 2007.  The latest forecast from the Mortgage Bankers Association reported purchase originations to reach $1.1 trillion next year.

In The News:

CoreLogic – “Effects of Student Loan Debt on Millennial Renters’ Creditworthiness” (10-24-16)

“As college costs have skyrocketed, students and their families have taken on debt to make up the difference. Many studies have pointed out that the increasing student debt has created a financial burden on millennials and postponed their homebuying decisions.”

South Florida Business Journal – “Miami among top U.S. metros for Asian real estate investment” (10-25-16)

“If the first half of 2016 is an indicator, Asian investment in global commercial real estate is on track to set a record for the year.  And among U.S. metros benefiting from Asian commercial real estate investment, Miami is No. 4.”

CNBC – “US home prices rose 5.3% in August: S&P/Case-Shiller” (10-25-16)

“U.S. home prices rose slightly in August from the previous month, thanks to measured but positive economic growth, rising prices and wider home affordability.”

NAHB – “International Housing Association Meets with World Advocacy Leaders to Discuss Key Issues” (10-25-16)

“Extending its dialogue on international housing policy, representatives from the International Housing Association (IHA) participated in Habitat III, the United Nations Conference on Housing and Sustainable Urban Development, where new global housing standards were set. The meeting took place Oct. 17-20 in Quito, Ecuador.”

Bloomberg – “Wall Street Banks to Face On-Site Reviews of Sales Practices” (10-25-16)

“To ensure Wells Fargo & Co.’s scandal over unauthorized customer accounts isn’t being repeated at other lenders, regulators are poised to start reviewing data and talking to employees inside the biggest U.S. banks, according to a person familiar with the matter.”

DS News – “Ellie Mae Launches Encompass Lending Platform” (10-25-16)

“Ellie Mae, a provider of software solutions for the residential mortgage industry, has announced the launch of its Ellie Mae’s Encompass Lending Platform and a suite of applications with the goal of allowing users to make greater use of existing Ellie Mae technology to grow their business.”

Mortgage Bankers Association – “Purchase Originations to Total $1.1 Trillion in 2017” (10-25-16)

“The Mortgage Bankers Association (MBA) announced today that it forecasts $1.10 trillion in purchase mortgage originations during calendar year 2017, an 11 percent increase from 2016.”

The Mortgage Reports – “Home Values Continue Impressive 61-Month Climb” (10-25-16)

“U.S. home values have continued to rise, pushing home prices to new, all-time highs, non-adjusted for inflation.  The Home Price Index, which is published by the Federal Housing Finance Agency (FHFA), shows U.S. property values up another 0.7 percent in August.”