Today’s News Synopsis:

More Americas are spending twice as much as before on home improvements.  Despite the housing market being its strongest its sellers, demand for housing is slowly starting to dwindle with the decrease in available inventory.  New legislation was introduced today, H.R. 2148, that was met with positive feedback from the MBA and will help make the rules on lending on commercial real estate easier to understand.

In The News:

Realtor.com – “Remodeling by the Numbers: Americans Double Down on Home Improvements” (4-25-2017)

“Homeowners who have long hated their grungy floors, salivated over their neighbors’ fancy outdoor patios, and wanted to give their sagging homes a general face-lift since they moved in are opening their checkbooks wide.”

DS News – “Freddie Portfolio Grows, Delinquency Rates Down” (4-26-2017)

“Freddie Mac’s total mortgage portfolio grew 4.8 percent from March 2016 to March 2017, according to the GSE’s Monthly Volume Summary released on Wednesday.”

CNBC – “Homebuyer demand suddenly falling off as inventory keeps shrinking” (4-26-2017)

“The story has been the same for a while — high buyer demand plus a short supply of homes for sale equals higher home prices and plenty of buyer frustration”

Mortgage Bankers Association – “Mortgage Applications Increase in Latest MBA Weekly Survey” (4-26-2017)

“Mortgage applications increased 2.7 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending April 21, 2017.”

Curbed – “This spring’s real estate market is expected to be busier than last year’s” (4-26-2017)

“Approximately 63 percent of real estate professionals surveyed by Bright MLS expect this year’s spring housing market to be busier than last spring.”

DS News – “Ocwen Files Motions Against CFPB” (4-26-2017)

“Ocwen Financial Corporation is hoping to expedite a court ruling on the constitutionality of Consumer Financial Protection Bureau with two motions, filed Wednesday morning”

Mortgage Bankers Association – “MBA Applauds Bipartisan Legislation to Clarify Rules on Commercial Real Estate Lending” (4-26-2017)

“The Mortgage Bankers Association (MBA) applauded the introduction today of H.R. 2148, bipartisan legislation which clarifies and amends parts of the Basel III high volatility commercial real estate (HVCRE) banking regulation.”

Bloomberg – “China’s $290 Billion New City Lifts Hope for Better Urbanization” (4-26-2017)

“China’s plan to build a new city about two hours drive from Beijing has raised hopes it may catalyze better urban design across the nation, enhancing economic efficiency and cutting air pollution.”