Today’s News August 15, 2019
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- Little Change in Long-Term Mortgage Rates
The FRM remained at 3.6% this week, but Freddie Mac’s annual survey took place largely before a stock market decline that might push rates lower by next week.
- CoreLogic: U.S. No Longer has ‘Foreclosure Rate’ Problem
The U.S. foreclosure rate dropped to 3.6% in May from 2018’s 4.2% – and many of the new foreclosures were in areas hit by some kind of natural disaster.
- Old Homes Attract Less Remodeling Dollars than New Ones
Study: Homeowners spent $3.70 less on their home every year it ages, suggesting that major remodeling upgrades are unevenly going to newer properties.
- Which Fla. Cities Have the Lowest Local Taxes?
According to a Kiplinger list of 50 Fla. cities, Palm Bay residents pay the lowest local taxes ($3,205/year) in the state, followed by Poinciana and Lehigh Acres.
- FHFA Publishes Final Rule on Credit Score Models
The credit-score change, which becomes effective in Oct., will make it easier for some families without traditional credit histories to be approved for a mortgage.
- AP Explains: Is the U.S. Economy Nearing a Recession?
A few more economists worry that a recession is on the horizon – 40%, up from 30% last month. But the bigger question is “How bad would it be?”, and many economists think it would be fairly mild. In general, expecting a downturn often causes a downturn.
- Dear Anne: Don’t Turn Your Back on This Agent – Round II
Last month’s article on procuring cause generated a lot of interest, with some members disagreeing on which agent deserved a commission. But in real life, answers aren’t always easy – and they’re impossible until you hear from both sides.
- In Some Metros, Fair Housing Is Just a Starting Point
Are you in compliance with local fair housing ordinances? Some local governments’ laws go beyond the Fair Housing Act (FHA) rules, covering issues likes sexual orientation and Section 8 housing vouchers – and you should know what they are.
- Have a Legal Question? Come to the Convention
Worried about Fair Housing Act liability? Confused about service and emotional support animals? Focused on Fla.’s team advertising rule? Attend the Legal and Professional Standards Update at Florida Realtors’ convention on Thurs. or one of nine legal-oriented education sessions – just show up and register.
