Today’s News Synopsis:

25% of sellers are not worried about selling their home according to the latest NAHB survey.  The latest Mortgage Monitor Report from Black Knight Financial Services showed that 19% of HELOCs that are currently active are expected to reset this year.  More and more people are choosing to remodel and make small changes to their homes and live out their days there rather than move.

In The News:

Redfin – “Redfin Survey: One in Four Home Sellers Report Having No Concerns About Selling” (5-1-2017)

“One in four home sellers said they have no concerns about selling this spring, according to an April survey of nearly 900 homeowners conducted by Redfin (www.redfin.com), the next-generation real estate brokerage.”

CNBC – “Massachusetts sues Ocwen over mortgage servicing practices” (5-1-2017)

“The Massachusetts attorney general sued a unit of Ocwen Financial, accusing the mortgage servicing company of engaging in abusive practices that harmed thousands of homeowners in the state.”

Bloomberg – “Consumer Spending in U.S. Stalls in March” (5-1-2017)

“U.S. consumer spending stalled in March while inflation slowed to below the Federal Reserve’s target, showing the biggest part of the economy might take more time to gain momentum after a tepid start to the year.”

Realtor.com – “Construction Spending Eases in March After a February Blowout” (5-1-2017)

“Spending on construction dipped in March following an unusually strong pace of spending in February.  Construction outlays were down 0.2%, the Commerce Department said Monday.”

NAHB – “Aging-in-Place Remodeling, Minor Modifications Gaining Popularity, According to NAHB Survey” (5-1-2017)

“The past five years have seen increases in the number of remodelers engaged in aging-in-place home modifications and homeowner awareness of these types of remodeling projects, according to a survey by NAHB Remodelers, the remodeling arm of the National Association of Home Builders (NAHB).”

Black Knight Financial Services – “Black Knight’s March Mortgage Monitor: 19 Percent of Active HELOCs Are Scheduled to Reset in 2017” (5-1-2017)

“Today, the Data and Analytics division of Black Knight Financial Services, Inc. (NYSE: BKFS) released its latest Mortgage Monitor Report, based on data as of the end of March 2017.”

Bloomberg – “Markdowns in Manhattan, While Costs Grow in Brooklyn” (5-1-2017)

“Manhattan is the borough of discounts. Brooklyn is where buyers might have to overpay for a home.”

Fannie Mae – “Fannie Mae Announces Scheduled Release of First Quarter 2017 Financial Results” (5-1-2017)

“Fannie Mae (FNMA/OTC) today announced plans to report its first quarter 2017 financial results on Friday morning, May 5, 2017, before the opening of U.S. financial markets.”

The Real Deal Magazine – “A&E buying seven Queens buildings for $83M” (5-1-2017)

“A&E Real Estate Holdings is in contract to buy a seven-building Queens portfolio for $82.8 million, in its latest grab at the few remaining New York City multifamily holdings of global alternative asset manager Ares Management, sources told The Real Deal.”