Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  Janet Yellen is still confident an interest rate hike will happen depending on the state of the market.  Home values increased in 54 U.S. metropolitan areas according to the latest Home Price Recovery Index from HSN.com.  Another recent survey from Zillow showed home prices in Toronto increased by 20% last month.

In The News:

DS News – “Home Values Rising to Meet or Recover Previous Losses” (3-2-2017)

“There is good news for 54 metro areas in the U.S. in that the price of housing in these areas has now reached or exceeded the prices of homes before the 2008 housing decline, according to HSH.com’s Home Price Recovery Index.”

CNBC – “More homeowners cashing in on their new housing wealth” (3-3-2017)

“Homeowners are opening their favorite piggy bank again — their homes.  As home values rise faster than expected, that increased homeowner wealth suddenly seems more enticing. It’s showing up in big remodeling growth and higher profits for retailers like Home Depot and Lowe’s, but it also serves as a warning sign.”

Bloomberg – “Yellen Says March Hike ‘Likely Appropriate’ If Progress Persists” (3-3-2017)

“Federal Reserve Chair Janet Yellen capped a week of rising expectations about an imminent interest-rate increase by explicitly supporting a hike in mid-March if U.S. economic progress persists.”

Freddie Mac – “Freddie Mac Prices $1.18 Billion Multifamily K-Deal, KF28” (3-3-2017)

“Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates (K Certificates) backed by floating-rate multifamily mortgages with predominantly seven-year terms. The approximately $1.18 billion in K Certificates (K-F28 Certificates) are expected to settle on or about Mar. 14, 2017.”

CoreLogic – “CoreLogic Announces the Passing fo President and CEO Anand Nallathambi” (3-3-2017)

“CoreLogic® (NYSE: CLGX), a leading global property information, analytics and data-enabled solutions provider, announced today that President and CEO, Anand Nallathambi, passed away on March 2, 2017, after a brief illness.”

Seeking Alpha – “Real Estate Weekly: REITs Decline As Trump Optimism Lifts Interest Rates” (3-3-2017)

“REITs declined 2.2% on the week, led down by the yield-sensitive REIT sectors. Trump’s address to Congress sparked a 20 bps surge in interest rates on renewed economic optimism.”

Bloomberg – “Million-Dollar Home Contagion Spreads to Toronto Suburbs” (3-3-2017)

“Toronto home prices jumped more than 20 percent in February for the sixth straight month as listings dried up, pushing the price of a suburban house beyond C$1 million ($750,000) for the first time.”