Today’s News Synopsis:

Over 30,000 foreclosures were completed in October according to the latest National Foreclosure Report from CoreLogic.  The Mortgage Bankers Association reported a 12% increase in new home purchase applications year-over-year in November.  Realtor.com just released a list of the top ten cities where you can find a bargain on homes.

In The News:

CoreLogic – “CoreLogic Reports 30,000 Completed Foreclosures in October 2016” (12-13-16)

“CoreLogic^® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, today released its  October 2016 National Foreclosure Report which shows the foreclosure inventory declined by 31.5 percent and completed foreclosures declined by 24.9 percent compared with October 2015.”

Mortgage Bankers Association – “November New Home Purchase Mortgage Applications Increase 12 Percent Year over Year” (12-13-16)

“The Mortgage Bankers Association (MBA) Builder Applications Survey (BAS) data for November 2016 shows mortgage applications for new home purchases increased 12 percent relative to November 2015.”

CNBC – “How rising mortgage rates may not matter for housing” (12-13-16)

“Mortgage rates are now sitting solidly at the highest level in two years and could move even higher in the coming weeks.  Granted, December is not exactly the hottest season for the housing market — homes don’t top the holiday gift list — but in January, all eyes move to the all-important spring season. This, coming after the Federal Reserve’s expected rate increase on Wednesday.”

Freddie Mac – “Freddie Mac Statement on Duty to Serve Final Rule” (12-13-16)

“The following statement was released today by Freddie Mac (OTCQB: FMCC) and is attributed to Donald H. Layton, chief executive officer:

‘We look forward to working with the Federal Housing Finance Agency (FHFA) and stakeholders to implement the Duty to Serve provisions. We’re proud to responsibly increase our activities involving manufactured housing, affordable housing preservation and rural housing to help more American families.'”

Bloomberg – “Dow Heads for 20,000 as Stocks Rise, Gold Falls Ahead of Fed” (12-13-16)

“Global stocks advanced, sending the Dow Jones Industrial Average within 50 points of 20,000 on speculation that the Federal Reserve’s expected rate increase is a signal of confidence that the economy is strengthening. The dollar and Treasuries were little changed.”

Redfin – “Redfin’s Seven Housing Predictions for 2017” (12-13-16)

“Heading into 2017, Redfin data scientists and thought leaders put their heads together to predict what the housing market has in store for the new year, under a new president.”

DS News – “Fighting Blight: Ohio Moves to Ban Plywood” (12-13-16)

“The property preservation industry has taken another huge step toward reducing community blight with the passage of Ohio H.B. 463 in the Ohio State Senate.”

Realtor.com – “Bargain Hunter’s Special: Top 10 U.S. Markets for Real Estate Discounts” (12-13-16)

“For the most part, homeowners across the U.S. are sitting pretty these days. Home prices are going up, up, up—in the country’s hottest markets, it’s a full-throttle seller’s market.”