Today’s News Synopsis:

Freddie Mac reported an increase in interest rates for the first time this year, 30-year rates now being at 4.19% and 15-year rates at 3.40%.  Mansion Global conducted a survey with real estate tax attorneys to determine which countries have the highest and lowest residential taxes.  The Labor Department reported an increase in jobless claims by 22,000 to 259,000.

In The News:

Hollywood Reporter – “L.A. Real Estate Continues to Sizzle, But For How Much Longer?” (1-26-2017)

“A new report shows that the number of home sales plunged dramatically in the fourth quarter of 2016 but prices continued to climb upward.”

Freddie Mac – “Mortgage Rates Rise for First Time in 2017” (1-26-17)

“Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey® (PMMS^®), showing average 30-year and 15-year fixed mortgage rates rising for the first time in 2017.”

Bloomberg– “U.S. Wage Disparity Took Another Turn for the Worse Last Year” (1-26-17)

“The picture on income inequality in America just got a little bleaker.  Top wage earners last year made 5.05 times what their lowest-income counterparts took home, the widest gap in data going back to 1979, according to the Labor Department.”

CoreLogic – “DATA BRIEF: Flooding and Damaging Wind Were Most Destructive Natural Hazards in 2016” (1-26-17)

“CoreLogic^® today released its annual Natural Hazard Risk Summary and Analysis which shows relatively average or below-average activity for most U.S. natural hazards with the exception of flood and wind, both of which saw above-average activity, due in large part to Hurricane Matthew.”

Fannie Mae – “Fannie Mae’s Connecticut Avenue Securities Receive Top Honors from Risk Magazine” (1-26-17)

“Fannie Mae’s (FNMA/OTC) Connecticut Avenues Securities™ (CAS) transaction, CAS 2016-C01, has received the first-ever Sovereigns, Supranationals, and Agencies (SSA) Deal of the Year award from Risk Magazine.

Bloomberg – “World’s Biggest Real Estate Buyers Are Suddenly Short on Cash” (1-26-17)

“China’s escalating crackdown on capital outflows is sending shudders through property markets around the world.  In London, Chinese citizens who clamored to purchase flats at the city’s tallest apartment tower three months ago are now struggling to transfer their down payments.”

Mansion Global – “Which Countries Have the Highest and Lowest Taxes on Residential Real Estate?” (1-26-17)

“With a capital gains tax burden of 28.6%, the U.S. has the sixth-highest rate among 35 countries in the Organization for Economic Cooperation and Development (OECD), said Mr. Gillen, citing 2015 Tax Foundation Organization figures.“Only taxpayers in Denmark (42%), France (34.4%), Finland (33%), Ireland (33%) and Sweden (30%) face higher rates,” he continued.”

Bloomberg – “Jobless Claims in U.S. Rise to Four-Week High Amid Holiday” (1-26-17)

“Filings for U.S. unemployment benefits rose more than forecast last week amid holiday-related volatility, while remaining low by historical standards.”