Today’s News Synopsis:

The housing market for those 55+ was extremely positive in the third quarter, coming in at above 50.  Fannie Mae’s net income was $3.2 billion in the third quarter according to their latest income report.  Freddie Mac reported an increase in mortgage rates with 30-year rates now at 3.54% and 15-year rates at 2.84%.

In The News:

NAHB – “55+ Housing Market Has Strong Third Quarter Showing” (11-3-16)

“Builders report that the single-family 55+ housing market is holding strong in the third quarter, according to the National Association of Home Builders’ (NAHB) 55+ Housing Market Index (HMI) released today.”

Fannie Mae – “Fannie Mae Reports Net Income of $3.2 Billion and Comprehensive Income of $3.0 Billion for Third Quarter 2016” (11-3-16)

“Fannie Mae expects to pay $3.0 billion in dividends to Treasury in December 2016. With the expected December dividend payment, the company will have paid a total of $154.4 billion in dividends to Treasury”

Bloomberg – “Clocks Fall Back This Weekend.  U.S. Consumer Spending May Too” (11-3-16)

“The clocks turn back this weekend, giving most Americans an extra hour to cash in on sleep. But new research finds they tend to spend less money with fewer hours of daily sunlight.”

Freddie Mac – “Mortgage Rates Head Up” (11-3-16)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS), showing average fixed mortgage rates increasing to their highest level since late June.”

News-Press – “Market Trends: A changed but healthy real estate year ahead” (11-3-16)

“After 2016’s mixed bag of real estate results, developers, builders and the people who finance them are asking what the next two years will bring — are we going boom or bust?”

DS News – “Bankruptcy Filings Dip Lower” (11-3-16)

“Nationwide bankruptcy filings were 5 percent lower in October 2016 compared with a year earlier, falling even lower than last month’s reported decrease, according to October 2016 AACER bankruptcy data reported by Epiq Systems.”

Freddie Mac – “Freddie Mac Releases 2017 Funding Calendar” (11-3-16)

“Freddie Mac (OTCQB: FMCC) today issued its 2017 funding calendar, which provides optional announcement dates for Reference Notes^® securities and announcement and auction dates for Reference Bills^® securities. The 2017 funding calendar is available on the Debt Securities page of the company’s website.”