Miami New Times. Feb. 2, 2017–Brittany ShammasMiami Beach city officials are considering requiring that future parking garages be built so they could be converted into workforce housing in case parking demand declines due to driverless cars.
Category: Top National News
Mortgage Rates are Flat this Week
Washington Post, Feb. 2, 2017–Kathy OrtonAccording to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average was unchanged this week at 4.19 percent with an average 0.5 point.
Manhattan Townhouse Prices Slip
Wall Street Journal, Feb. 2, 2017–Josh BarbanelA new market report prepared for Douglas Elliman showed the average price of a townhouse fell by 9% in Manhattan in 2016.
Investors’ Victory in GSE Case May Be Turning Point Against Treasury
National Mortgage News, Feb. 2, 2017–Brian CollinsA federal appeals court ruling has opened the door for litigants to challenge a 2012 decision by the U.S. government to sweep all of Fannie Mae and Freddie Mac’s profits into the coffers of the Treasury Department.
Filings for U.S. Jobless Benefits Fell to 246,000 Last Week
Bloomberg, Feb. 2, 2017–Sho ChandraFewer Americans filed applications for unemployment benefits last week, marking 100 straight weeks of claims below 300,000. That’s the longest streak since 1970 and indicates a healthy job market.
U.S. Labor Market Tightening, Productivity Still Weak
Reuters, Feb. 2, 2017–Lucia MutikaniData on Thursday showed worker productivity slowing in the fourth quarter, which economists said suggested companies would need to keep hiring to increase output.
Top Republican Demands Fed Stop Participating in Basel, FSB
American Banker, Feb. 2, 2017–John HeltmanRep. Patrick McHenry, R-N.C, vice chair of the House Financial Services Committee is calling on the Federal Reserve to unilaterally disengage from the Financial Stability Board and Basel Committee on Banking Supervision until President Trump has installed his nominees on the Fed board.
Flagstar Bancorp Mortgage President Departing
Mortgage Daily, Feb. 2, 2017After just a year-and-a-half on the job, Len Israel is leaving Flagstar Bankcorp Inc.’s mortgage banking division.
Record Mortgage Originations at PennyMac
Mortgage Daily, Feb. 2, 2017In its fourth-quarter earnings report, the Westlake Village, California-based firm disclosed pre-tax income of $129 million.
HECM Endorsements Up From Year Earlier
Mortgage Daily, Feb. 2, 2017During the first month of the new year, endorsements of home-equity conversion mortgages by the Federal Housing Administration came to 4,578 units.