Today’s News Synopsis:

The latest S&P Dow Jones Indices and Experian data showed a small increase in mortgage default rates, up one basis point to .75% in March.  Construction on single-family homes decreased in March by 6.8% after showing positive numbers in February.  Bank of America reported a 40% increase in their profits with their strong increase in fixed-income trading.

In The News:

California Association of Realtors – “REBS offers 3D home tour technology to REALTORS” (4-17-2017)

“Real Estate Business Services® Inc. (REBS®), a subsidiary of the CALIFORNIA ASSOCIATION OF REALTORS® (C.A.R.), through its C.A.R. Business Products division, has signed a partnership with 3D home tour provider immoviewer, to help REALTORS® easily create virtual property tours and boost their business.”

NAHB – “Single-Family Production Falls in March After Strong February Reading” (4-18-2017)

“Following an elevated February reading, nationwide housing starts fell 6.8 percent in March to a seasonally adjusted annual rate of 1.22 million units, according to newly released data from the U.S. Department of Housing and Urban Development and the Commerce Department.”

Freddie Mac – “Freddie Mac April 2017 Outlook” (4-18-2017)

“Freddie Mac (OTCQB: FMCC) today released its monthly Outlook for April, looking at how the tight housing inventory will affect home sales during the spring homebuying season.”

Yahoo Finance – “Advertising on Listing Sites Could Add to Consumer Confusion in Real Estate” (4-18-2017)

“There is a battle raging in New York City real estate today and depending on the outcome, consumers across the country could find the already confusing land of real estate even more confusing.”

Bloomberg – “BofA Profit Jumps 40% as Fixed-Income Trading Tops Estimates” (4-18-2017)

“Bank of America Corp. posted a 40 percent surge in first-quarter profit, fueled by stronger trading revenue, and added employees for the first time in more than five years as Chief Executive Officer Brian Moynihan expressed optimism about the U.S. economy.”

The Real Deal Magazine – “Chinese real estate stocks are soaring despite property market fears” (4-18-2017)

“Chinese real estate stocks are racing ahead of their U.S. counterparts, but analysts are split over whether the rally can continue.”

Freddie Mac – “Freddie Mac Announces the Issuance of a New Three-Year Reference Notes Security” (4-18-2017)

“Freddie Mac (OTCQB: FMCC) announced today that it plans to issue a new three-year USD Reference Notes^® security, CUSIP number 3137EAEF2, due on April 20, 2020. The issue will be priced on Wednesday, April 19, 2017, and will settle on Thursday, April 20, 2017, at benchmark size.”

DS News – “Mortgage Defaults Climb Slightly” (4-18-2017)

“According to the March 2017 Consumer Credit Default Indices released by S&P Dow Jones Indices and Experian, mortgage default rates are up one basis point from February to .75 percent, a one-year high.”