Today’s News Synopsis:

Pending home sales increased 5.5% last month according to the latest National Association of Realtors report, following a 2.8% decrease in January.  Analysts at Morgan Stanley predict we will see the commercial real estate market at its top this year, bringing an end to what is known as the “bull cycle.”  As more and more boomers are not quite ready to settle down and still want to live an active life, more real estate communities are starting to reflect this change in attitude of the boomers.

In The News:

DS News – “FHFA Releases GSEs Progress Report” (3-29-2017)

“The Federal Housing Finance Agency released a Progress Report on Wednesday, which detailed its movement on the 2016 Scorecard, as well as three main tenets of Fannie Mae and Freddie Mac conservatorship: Maintain, Reduce, and Build.”

Bloomberg – “Fed’s Rosengren Says There Should Be Four Rate Hikes in 2017” (3-29-2017)

“Federal Reserve Bank of Boston President Eric Rosengren said the central bank should be prepared to raise interest rates a total of four times in 2017 to guard against overheating the U.S. economy.”

Business Insider – “MORGAN STANLEY: The bull market in commercial real estate is about to end” (3-29-2017)

“The commercial real estate market is showing cracks and will peak this year, Morgan Stanley analysts forecast.”

Realtor.com – “No Millennials Allowed: Boomers Are Flocking to Cool 55-Plus Communities” (3-29-2017)

“Hoping to buy into a vibrant community of homeowners that offers perks like daily fitness classes, lavish spas, and awesome cocktail hours? Maybe even a crazy theme party or two, with funny hats and copious amounts of booze? Ready to leave behind all that mundane lawn mowing, leaf raking, snow shoveling, and other daily home maintenance? Hey, we’ve got you covered.   Just don’t forget your AARP card.”

Mortgage Bankers Association – “Mortgage Applications Slightly Decrease in Latest MBA Weekly Survey” (3-29-2017)

“Mortgage applications decreased 0.8 percent from one week earlier, according to data from the Mortgage Bankers Association’s (MBA) Weekly Mortgage Applications Survey for the week ending March 24, 2017.”

Housing Wire – “Fannie Mae sells off $26 million in NPL to nonprofit institution” (3-29-2017)

“Fannie Mae announced the winning bidder of its sixth Community Impact Pool of non-performing loans.  The winner, New Jersey Community Capital, is a nonprofit community development financial institution, and will close on the transaction on May 23, 2017.”

Bloomberg – “Pending Sales of Existing Homes in U.S. Rise Most Since 2010” (3-29-2017)

“Contracts to buy previously owned U.S. homes jumped in February by the most since July 2010, according to figures released Wednesday by the National Association of Realtors in Washington.”

CNBC – “Homebuilders struggle to fill jobs ‘Americans don’t want'” (3-29-2017)

“At a sprawling construction site barely 15 minutes from downtown Denver, workers move ground, pour foundations and frame walls and windows, but the work goes slowly because of the slim workforce.”