Today’s News Synopsis:
Both Fannie Mae and Freddie Mac released their eviction moratoriums for the holidays today. It seems fewer real estate transactions are taking place as people are waiting to see how Trump will handle the market. Although the Fed is certain to raise interest rates to 05-0.75%, the issue does not seem to be as big a discussion as prior years.
In The News:
DS News – “The Week Ahead: Will Declines in Foreclosure Levels Slow?” (12-11-16)
“Foreclosures and foreclosure inventory levels have recently slowed in their decline, and this trend could become more apparent in the latest CoreLogic Foreclosure Report, set to be released on Tuesday December 13th.”
Bloomberg – “Treasury 10-Year Yield Tops 2.5% Amid Global Bond Selloff” (12-12-16)
“Treasury 10-year yields climbed above 2.5 percent for the first time since October 2014 as surging oil added momentum to a global rout in bonds”
Fannie Mae – “Fannie Mae Announces Eviction Moratorium for the Holidays” (12-12-16)
“Fannie Mae (FNMA/OTC) announced today that it will suspend evictions of foreclosed single-family properties during the holiday season. The suspension of evictions will apply to single-family and 2-4 unit properties from December 19, 2016 through January 2, 2017. During this period, legal and administrative proceedings for evictions may continue, but families will be allowed to remain in the home.”
Freddie Mac – “Freddie Mac Announces Holiday Eviction Moratorium Dec. 19, 2016 to Jan. 3, 2017” (12-12-16)
“Freddie Mac (OTCQB: FMCC) announced today a nationwide suspension of eviction lock-outs between Dec. 19, 2016 and Jan. 3, 2017. The moratorium applies to all foreclosed, occupied homes owned by Freddie Mac.”
Bloomberg – “Yellen Outlook Blurred by Trump Fiscal Plans: Decision-Day Guide” (12-12-16)
“Federal Reserve leaders convene in Washington this week to discuss interest rates for the first time since the U.S. presidential election sent long-term bond yields and equity markets soaring on bets the new administration will stimulate growth.”
Housing Wire – “Ally Bank gets back to mortgage lending big time” (12-12-16)
“Ally Bank announced Monday it is finally back into the mortgage business big time, and introduced its new direct-to-consumer mortgage offering – Ally Home.”
Pensions & Investments – “Real estate transactions hit pause awaiting Trump effect” (12-12-16)
“Economic and political uncertainty sparked by the election of Donald Trump has caused some real estate transactions to stall, and that could ding investors’ returns.”
City Limits – “Call for Halt to Aggressive Real-Estate Tactics in East New York” (12-12-16)
“On Saturday, tenants, homeowners, and elected officials gathered in East New York to oppose real estate brokers’ harassment of local homeowners. The protestors marched through the neighborhood taking down signs with messages like “We Buy Houses — Any House, Any Condition” and “Tenant Evictions Here,” then held a press conference outside the offices of Quick Evic, a tenant eviction service.”
Bruce Norris will be speaking at 10 Life-Changing Days of a Real Estate Investor in San Diego on Tuesday, December 13.
Bruce Norris of The Norris Group will be presenting 2% Interest, $30 Trillion in Debt, and Other Suprise Endings on Saturday, February 4.
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