Today’s News Synopsis:

Is mandatory solar on its way?  The National Association of Realtors reported pending homes sales decreased 0.8% in July, their fourth time in five months to decrease.  Freddie Mac reported another decrease in mortgage rates with 30-year rates now at 3.82% and 15-year rates 3.12%.

In The News:

National Association of Realtors – “Pending Home Sales Lessen 0.8 Percent in July” (8-31-2017)

“Pending homes sales stumbled in July for the fourth time in five months as only the West saw an increase in contract activity, according to the National Association of Realtors.”

Bloomberg – “U.S. Consumer Spending, Incomes Signal Stable Second-Half Start” (8-31-2017)

“U.S. consumer spending increased by less than estimated in July, though rising incomes and an upward revision to June purchases put the economy on a stable footing for the second half, Commerce Department figures showed Thursday.”

Mortgage Bankers Association – “Mortgage Rates Continue to Drop” (8-31-2017)

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

CNBC – “‘Nonprime has a nice ring to it’: the return of the high-risk mortgage” (8-31-2017)

“It was about a decade ago that Dan Perl chucked it all in to go surfing in Mexico.  As a veteran underwriter of subprime mortgages, he’d seen enough by April 2007 to know that there was serious trouble ahead.”

DS News – “Appraisal Institute CEO Announces Resignation” (8-31-2017)

“After 10 years of service, the Appraisal Institute, the nations largest professional association of real estate appraisers, recently accepted the resignation of CEO Frederick H. Grubbe, MBA, CAE, through their Board of Directors.”

Housing Wire – “CFPB shuts down California credit repair company for lying to consumers” (8-31-2017)

“Prime Marketing Holdings, a California credit repair company, was already on the radar of the Consumer Financial Protection Bureau, as several of its associated companies were fined earlier this year by the bureau for misleading consumers and charging illegal fees for credit repair services.”

U.S. News – “Can an Income Property Rescue Your Retirement?” (8-31-2017)

“Stocks are soaring but for many investors, real estate is king. Twenty-eight percent of investors say real estate is the best place to invest money they won’t need for the next 10 years, according to Bankrate. Stocks came in third on the list, after cash.”

Tampa Bay Times – “St. Petersburg proposal would require solar panels on new homes and major roof repairs” (8-31-2017)

“If you’re building a new house or putting on a new roof next year, and your place is bigger than 1,100 square feet, then St. Petersburg city officials may require you to install solar panels.”