– Budget proposal could impact flood insurance Proposed $190M budget cuts for updating flood maps could lead to higher costs if insurers stop trusting older maps or homeowners must make up the difference. Tax reform could raise cost of property insurance Insurers buy reinsurance to reduce risk, but most...
– Florida property insurers avoid ratings downgrades Potential problem averted: If Fannie/Freddie-backed rating firm downgraded Fla. insurers, it could have halted closings and made current owners find new coverage. NAR: HUD programs that would be cut under Trump’s budget Congress passes budgets, but a president’s budget can influence the...
– Single-family housing starts hit highest level in 10 years Single-family production increased 6.5%, “consistent with rising builder confidence in the housing market,” says NAHB president. Multifamily dropped 3.7%. 30-year mortgage rates rise again: 4.30% Average rates hit their highest level for 2017 again. 90% of experts polled by...
– NAR: Consumers almost giddy – but renters wary of buying Job gains and hope are “igniting consumer confidence across the country,” per NAR’s latest HOME survey, but fewer renters think it’s a good time to buy. Spring real estate buyers: Early bird gets worm Listings should hit the...
– Residents of 39 U.S. states pay more taxes A WalletHub study finds Fla. 10th best for total state and local taxes paid, 25th for real estate taxes, and eighth best for the cost of sales and excise taxes. Credit scores may improve soon – but there’s a risk...
– FHA loans easier to get – but more in default More non-bank lenders are now offering FHA loans, and the past-due payment rate rose slightly. Experts disagree on whether that’s good or bad. Study: Millennials want the suburbs after all “The evidence suggests … that homeownership decisions by...
– 30-year mortgage rate rises to yearly high: 4.21% The Fed is expected to raise interest rates next week, nudging the 30-year FRM higher. Most experts (70%) polled this week predict rate increases will continue. Buyers racing to snag a low mortgage rate A higher rate means a smaller...
– Realtors: How will health insurance bill affect you? The U.S. House introduced a healthcare bill this week that changes the current system. NAR is studying the issue to see where it might help or hurt Realtors. Study: More owner-occupied homes becoming rentals Which homes tend to become rentals?...
– How will housing change over the next decade? Be ready for some major demographic housing shifts: Demand will be higher overall, but buyers in their 20s will drop as the number in their 30s and 40s grows. NAR: Gen X recovering, millennials still live with mom The 2017...
– Can a community assoc. board sue a unit owner for defamation? Some people complain more than others, but is there a point where criticism turns into harassment? With boards and unit owners, the answer is complicated. The top gripe of condo owners? Poor workmanship A community association survey...
