Today’s News Synopsis:

The NAHB reported builder confidence continues to hold steady, having only decreased 2 points to 67.  The Mortgage Bankers Association reported a 0.8% increase in mortgage applications from last week.  A ruling made by the Ninth Circuit Court allowing Fannie Mae to bring state lawsuits directly to the Federal Court has been overturned.

In The News:

NAHB – “Builder Confidence Holds Firm in January” (1-18-17)

“Builder confidence in the market for newly-built single-family homes remained on firm ground in January, down two points to a level of 67 from a downwardly revised December reading of 69 on the National Association of Home Builders/Wells Fargo Housing Market Index (HMI).”

Bloomberg – “Yellen Says Economy Near Goals, Warranting Gradual Rate Hikes” (1-18-17)

“Federal Reserve Chair Janet Yellen said the U.S. economy is “close” to the central bank’s objectives of full employment and stable prices and she’s confident it will continue to improve.”

Fannie Mae – “Fannie Mae Prices $1.351 Billion Connecticut Avenue Securities Risk Sharing Deal” (1-18-17)

“Fannie Mae (FNMA/OTC) priced its first­­­­ credit risk-sharing transaction of 2017 under its Connecticut Avenue Securities™ (CAS) program. CAS Series 2017-C01, a $1.351 billion note offering, is scheduled to settle on January 26, 2017.”

Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (1-18-17)

“Mortgage applications increased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending January 13, 2017.”

DNA Info – “Here’s How Mortgage Rate Increases Could Impact NYC Real Estate” (1-18-17)

“When buying a home, affordability comes down to your monthly payments — which means rising mortgage interest rates can sometimes make or break a deal.”

Los Angeles Times – “Inglewood real estate market expected to score as Chargers join Rams at new stadium” (1-18-17)

“The Chargers’ decision to join the Rams at a splashy new stadium in Inglewood has at least one builder even more pumped up about the city’s prospects.”

Freddie Mac – “Freddie Mac Forgoes Issuing a Reference Notes Security on its January 18, 2017 Announcement Date” (1-18-17)

“Freddie Mac (OTCQB: FMCC) announced today that it will forgo issuing a Reference Notes^® security on its Jan. 18, 2017 announcement date.”

DS News – “Supreme Court Blocks Fannie Mae’s Path to Federal Courts” (1-18-17)

“The U.S. Supreme Court ruled on Wednesday that Fannie Mae cannot automatically bring state lawsuits to federal court, reversing an earlier decision by the Ninth Circuit Court.”