Today’s News Synopsis:

Production on multifamily houses across the nation increased 11.3% in December to 1.23 million.  Optimism for home remodeling continued to remain strong in the fourth quarter, coming in at 53.  Freddie Mac reported mortgage rates dropped again for the third week in a row with 30-year rates now at 4.09% and 15-year rates at 3.34%.

In The News:

Realty Trac – “FHA Buyers Could Save an Average of $446 Annually with Proposed Mortgage Insurance Premium Cut” (1-19-17)

“ATTOM Data Solutions, curator of the nation’s largest fused property database, today released an analysis that found that borrowers across the country could potentially save an average of $446 a year under the new mortgage insurance premium reduction set to take effect later this month for loans backed by the Federal Housing Administration.”

Bloomberg – “London’s Vanishing Real Estate Market” (1-19-17)

“Londoners are optimists, at least judging by what they think their houses are worth.  Asking prices for homes in the capital have held up remarkably despite Brexit and an increase in purchase tax, or stamp duty.”

Parade – “Real Estate Appraisal: What Is the White House Worth?” (1-19-17)

“On Friday, January 20, the White House gets its newest residents when Donald J. Trump takes office. Even though incoming president seems to come from unlimited wealth, it’s a good thing he doesn’t have to buy his new home: according to Zillow.com, the real estate valuation for the White House is a cool $379 million.”

NAHB – “Remodeling Market Optimism Remains Positive in Fourth Quarter” (1-19-17)

“The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 53 in the fourth quarter of 2016, a decrease of four points from the previous quarter, but on par with levels seen in the first half of 2016.”

Freddie Mac – “Mortgage Rates Lower for Third Consecutive Week” (1-19-17)

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

CNBC – “Fannie Mae and Freddie Mac shares tank after Mnuchin comments” (1-19-17)

“Shares of Fannie Mae and Freddie Mac plunged nearly 10 percent during midday trading on Thursday after Steven Mnuchin, Donald Trump’s pick for Treasury Secretary, made comments that ‘there never should be recap and release.'”

Bloomberg – “George Soros Says Markets Will Falter as Uncertainty Takes Over” (1-19-17)

“Billionaire investor George Soros said the euphoria among stock investors since the victory of President-elect Donald Trump will end as uncertainty takes over.”

Freddie Mac – “Freddie Mac to Delist from Luxembourg Stock Exchange” (1-19-17)

“Freddie Mac (OTCQB: FMCC) announced that its request to delist its debt and mortgage securities from the Luxembourg Stock Exchange was granted on Jan. 17, 2017.”

NAHB – “Nationwide Housing Production Up 11.3 Percent in December on Multifamily Surge” (1-19-17)

“A surge in multifamily production resulted in overall nationwide housing starts rising 11.3 percent to a seasonally adjusted annual rate of 1.23 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.”