Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  ATTOM Data Solutions reported a 27% increase in foreclosure filings in October, most of that stemming from states like Arizona, Colorado, and Georgia still getting through meltdown loans.  The NAHB reported a slight decrease in housing affordability in the third quarter at 61.4%, compared to 62% in the second quarter.  Freddie Mac reported mortgage rates increased again with 30-year rates at 3.57% and 15-year rates at 2.88%.

In The News:

CNBC – “What’s behind a sudden foreclosure spike?” (11-10-16)

“Foreclosures had been falling steadily to the lowest levels in nine years, but a curious spike in October may be the first sign of a crack in the recovery.”

Realty Trac – “U.S. Foreclosure Activity Increases 27 Percent in October” (11-10-16)

“ATTOM Data Solutions, curator of the nation’s largest fused property database, today released its October 2016 U.S. Foreclosure Market Report™, which shows a total of 105,481 U.S. properties with foreclosure filings — default notices, scheduled auctions or bank repossessions — in October, up 27 percent from a 129-month low in September but still down 8 percent from a year ago.”

NAHB – “Housing Affordability Edges Lower in Third Quarter” (11-10-16)

“Ongoing home price appreciation offset a small decline in mortgage interest rates to move housing affordability slightly lower in the third quarter of 2016, according to the National Association of Home  Builders/Wells Fargo Housing Opportunity Index (HOI) released today.”

Bloomberg – “December Rate Hike on Track as ‘Nerdy’ Fed Avoids Politics” (11-10-16)

“Federal Reserve policymakers are a bunch of “incredibly nerdy” technocrats who never discuss politics in their meetings, according to a senior official, while his colleague said the election of Donald Trump as U.S. president shouldn’t delay an interest-rate increase next month.”

Fannie Mae – “Fannie Mae Announces the Winner of its Latest Non-Performing Loan Sale” (11-10-16)

“Fannie Mae (FNMA/OTC) today announced the winning bidder for its eighth non-performing loan sale.  The sale included approximately 6,900 loans totaling $1.3 billion in unpaid principal balance (UPB), divided among five pools.”

Freddie Mac – “Mortgage Rates Climb Higher” (11-10-16)

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

Bloomberg – “Wall Street Bonus Rules Seen as Urgent Ahead of Trump Takeover” (11-10-16)

“U.S. regulators are rushing to issue sweeping limits on Wall Street pay by January, said people familiar with the effort, before President-elect Donald Trump begins replacing officials installed by Barack Obama.”

Housing Wire – “CoreLogic partners with RentTrack to help renters build credit” (11-10-16)

“CoreLogic announced it is working with RentTrack to provide an online rent-payment solution for residents to build their credit as they make their rent or HOA payments online.”