Today’s News Synopsis:

The Miami real estate market is becoming a more popular venture for Russian buyers.  The monthly outlook Freddie Mac puts out every month was just released for the month of January.  The National Association of Realtors reported an increase in pending home sales in the midst of increased mortgage rates.

In The News:

CNBC – “Russian buyers suddenly warm to Miami real estate in a big way” (1-30-17)

“Russian buyers have long been active in Miami real estate, but now they appear to be more interested than anyone else.”

Bloomberg – “U.S. Pending-Home Sales Rebound Despite Rise in Mortgage Rates” (1-30-17)

“Contracts to buy previously owned U.S. homes rebounded last month as buyers adjusted to the recent jump in mortgage rates, according to figures released Monday from the National Association of Realtors in Washington.”

Mercury News – “Nation’s 10 hottest real estate markets include San Francisco, San Jose – and Vallejo?” (1-30-17)

“A new national “Hotness Index” is once again top-heavy with Bay Area real estate markets. No surprise there.  Because of the region’s housing supply (low) and demand from buyers (high, like always), the San Francisco-Oakland-Hayward metro area is No. 1 on the January list from realtor.com, and the San Jose-Sunnyvale-Santa Clara metro area is No. 2.”

Business Wire – “CitiMortgage Inc. Announces Strategic Exit of Mortgage Servicing Operations by End of 2018” (1-30-17)

“Citigroup announced it has executed agreements that will accelerate the transformation of the U.S. mortgage business by effectively exiting servicing operations by the end of 2018 to intensify focus on originations.”

Bloomberg – “Trump Pledges ‘Big Number’ on Dodd-Frank in Anti-Rule Push” (1-30-2017)

“President Donald Trump stepped up his criticism of financial regulations, pledging to go after the 2010 Dodd-Frank banking overhaul because he said the law has made it difficult for businesses to get loans.”

Freddie Mac – “Freddie Mac January 2017 Outlook” (1-30-2017)

“Freddie Mac (OTCQB: FMCC) released today its monthly Outlook for January 2017 with a look at the uncertainty that weighs on the housing market after the best year in a decade.”

Bloomberg – “U.S. Consumer Spending Rose in December by Most in Three Months” (1-30-17)

“U.S. consumer purchases climbed in December by the most in three months as incomes picked up, signaling a strong hand-off into 2017.”