Today’s News Synopsis:

Freddie reported mortgage rates are still at historical lows despite being at a four-month high.  Claims of unemployment increased last week for the first time since July after being at their lowest in 40 years.  Lending on multifamily homes was up 28% last year according to the Mortgage Bankers Association.

In The News:

Freddie Mac – “Mortgage Rates Highest in Four Months, Still Near Record Lows” (10-20-16)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey^® (PMMS^®), showing average fixed mortgage rates moving higher for the second week in a row and marking the first time the 30-year fixed-rate mortgage has risen above 3.5 percent since June.”

Bloomberg – “Jobless Claims in U.S. Rise After Falling to Four-Decade Low” (10-20-16)

“Filings for U.S. unemployment benefits rose last week by the most since July, after spending several weeks at or near a four-decade low.”

NAHB – “Remodeling Market Optimism Strengthens in Third Quarter” (10-20-16)

“The National Association of Home Builders’ (NAHB) Remodeling Market Index (RMI) posted a reading of 57 in the third quarter of 2016, an increase of four points from the previous quarter and also a return to levels seen consistently throughout 2015.”

Mortgage Bankers Association – “Multifamily Lending Up 28 Percent in 2015” (10-20-16)

“In 2015, 2,855 different multifamily lenders provided a total of $249.8 billion in new mortgages for apartment buildings with five or more units, according to the Mortgage Bankers Association’s (MBA) 2015 Annual Report on Multifamily Lending.”

Realty Trac – “Q3 2016 Single Family Rental Market Report” (10-20-16)

“ATTOM Data Solutions, the nation’s leading source for comprehensive housing data and the new parent company of RealtyTrac, today released its Q3 2016 Single Family Rental Market Report, which found that average single family rental returns dropped to a nine-year low for homes purchased so far in 2016 among 473 U.S. counties analyzed for the report.”

Bloomberg – “Squeezing Hedge Funds Is Path to Profit at Three Big Banks” (10-20-16)

“In the battle for supremacy on Wall Street’s equity trading desks, the most successful banks are dangling a precious resource in front of hedge-fund clients: a balance sheet.”

Freddie Mac – “Freddie Mac October 2016 Outlook” (10-20-16)

“Freddie Mac (OTCQB: FMCC) released today its monthly Outlook for October showing that housing remains a bright spot in the face of a marginally improving U.S. economy and tight inventories of for-sale homes.”

Fannie Mae – “Fannie Mae Issues $17.9 Billion of Multifamily MBS in the Third Quarter of 2016” (10-20-16)

“Fannie Mae (FNMA/OTC) announced today that the company issued $17.9 billion¹ of multifamily mortgage-backed securities (MBS) in the third quarter of 2016, primarily through its Delegated Underwriting and Servicing (DUS^®) program.”