Today’s News Synopsis:

The Mortgage Bankers reported a 3% increase in home purchase mortgage applications for the month of September.  Freddie Mac reported mortgage rates continue to increase with 30-year rates at 3.47% and 15-year rates at 2.76%.  The latest research from Ten-X shows the areas that are leading in the recovery are the same areas hit hardest by the recession ten years ago.

In The News:

Mortgage Bankers Association – “September New Home Purchase Mortgage Applications Increase 3 Percent Year over Year” (10-13-16)

“The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2016 shows mortgage applications for new home purchases increased 3 percent relative to September 2015.”

Realty Trac – “ATTOM Data Solutions Adds Home Utility Costs To Its Bulk Data Platform Via Exclusive Agreement With UtilityScore” (10-13-16)

“ATTOM Data Solutions, the nation’s leading source for comprehensive property data, and UtilityScore, a national provider of utility data, today announced a data licensing agreement making ATTOM Data Solutions the exclusive bulk data provider of UtilityScore data.”

Freddie Mac – “Mortgage Rates Tick Higher” (10-13-16)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing average fixed mortgage rates following Treasury yields and moving higher.”

Bloomberg – “Wells Fargo Is Your Last Warning: Check Your 401(k)” (10-13-16)

“Consumers have lodged countless complaints about how Wells Fargo & Co. employees opened sham accounts in their name.”

DS News – “Areas Hit Hardest in Housing Crisis Lead the Pace in Recovery” (10-13-16)

“As the last ripples of the recession drift further away, it turns out that the areas that were hardest hit nearly a decade ago are leading the pace of housing recovery.”

The Economist – “The rotten foundations of China’s real estate market” (10-13-16)

“JUST over a year ago, policymakers were having conniptions about China’s tumbling stockmarkets. Now it is China’s frothy property market that is causing worries at home and abroad.”

CNBC – “Friday’s markets brace for a double dose of Fed speak and big bank earnings” (10-13-16)

“Friday starts off with a rush of big bank earnings, an important retail sales report and comments from the now more hawkish president of the Boston Fed, one of three dissenters at the last FOMC meeting.”