Today’s News Synopsis:

Homes built in the style of the classic “Brady Bunch” house, known as split-level homes, could be making a comeback.  Zillow reported home values increased annually at their fastest pace in ten years, having been 6.5% higher year-over-year in November and the overall Home Value Index being at $192,500.  Home affordability decreased to its lowest in 8 years in the fourth quarter with 29% of local markets being less affordable than their historical averages.

In The News:

Zillow – “Home Values Rise at Fastest Pace Since 2006” (12-22-16)

“In November, national home values rose at their fastest annual pace since 2006, near the peak of the housing bubble.  The Zillow Home Value Index (ZHVI) is 2 percent shy of the records set in 2007, according to the November Zillow Real Estate Market Reports.”

Realty Trac – “U.S. Home Affordability Drops to 8-Year Low in Q4 2016” (12-22-16)

“ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its Q4 2016 Home Affordability Index, which shows the national affordability index in the fourth quarter was at its lowest level since Q4 2008.”

DS News – “Could a Full Foreclosure Recovery Come Sooner Than Anticipated?” (12-22-16)

“The foreclosure crisis is finally nearing an end, at least according to Bill Emmons, an Economist and Assistant VP with the St. Louis Fed in conjunction with the St. Louis Fed’s quarterly Housing Market Conditions report.”

Freddie Mac – “Mortgage Rates At two Year High” (12-22-16)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey (PMMS^®), showing average fixed mortgage rates moving higher for the eighth consecutive week.”

Bloomberg – “Barclays to Face Off Against U.S. Over ‘Craptacular’ Loans” (12-22-16)

“The U.S. Justice Department sued Barclays Plc for fraud over its sale of mortgage bonds after the bank balked at paying the amount the government sought in settlement negotiations.”

Realtor.com – “What Is a Split-Level House?  A Home for the ‘Brady Bunch’ and Beyond” (12-22-16)

“Does anyone know what type of home was the setting for “The Brady Bunch”? It’s called a split-level—a style of architecture that’s poised for a comeback today.”

DS News – “The Growth is Gone: Freddie Mac’s Portfolio Rate Drops” (12-22-16)

“Freddie Mac’s annualized rate for mortgage-related investments portfolio in November contracted 21.2 percent, a stark contrast from the rare growth of 4.7 percent last month. Fannie Mae is set to release its November statement later this month.”