Today’s News Synopsis:

Aaron Norris of the Norris Group gives this week’s Norris Group real estate headline roundup.  According to the latest Home Purchase Sentiment Index released by Fannie Mae, more consumers are not as confident about the future and less willing to take risks.  The Federal Reserve reported borrowing by consumers increased by 8.5%, or $25.9 billion, its highest in a year.  Zillow released their latest report showing which cities are seeing the highest rent increases.

In The News:

John Burns Real Estate Consulting – “Hurricanes’ Historical Impact on Construction” (10-6-16)

“As Hurricane Matthew heads toward the East Coast of the United States, our thoughts are with our team members, family members, and millions of others along the Southeast coast.”

Fannie Mae – “Consumers Show Increased Caution in Home Purchase Sentiment in September” (10-7-16)

“The Fannie Mae Home Purchase Sentiment Index® (HPSI) decreased 2.2 points to 82.8 in September, moving further off of survey highs.”

CNBC – “Worried about housing?  You’re not alone” (10-7-16)

“Rising mortgage rates, overheating home prices, nothing for sale, pre-election jitters — the list of reasons to lose confidence in the housing market is growing.”

Bloomberg – “Consumer Borrowing in U.S. Rises by Most in Nearly a Year” (10-7-16)

“Household borrowing increased in August at the fastest pace in almost a year, led by a jump in loans for school and automobile purchases”

Inman – “Apartment List releases report on LA rent trends” (10-7-16)

“Apartment List recently released its latest rent report for Los Angeles, finding rents here decreased by 0.4 percent from August to September.”

Fannie Mae – “Fannie Mae Reminds Homeowners and Servicers of Mortgage Assistance Options for Atlantic Coastal Areas Impacted by Hurricane Matthew” (10-7-16)

“Fannie Mae (FNMA/OTC) is reminding those in the Atlantic coastal areas impacted by Hurricane Matthew of the options available for mortgage assistance.”

Inman – “Where splitting rent makes the most financial sense” (10-7-16)

“Splitting rent by finding friends on Craigslist or even moving back in with mom and dad are popular tactics these days, largely due to rapidly rising housing costs.”

Bloomberg – “The Cities Where Rent Is Rising Fastest” (10-7-16)

“Your landlord will probably never lower your rent—but at least you can take solace that rents aren’t rising as quickly as they used to.”