– Average rate on 30-year mortgage falls to 3.71% Freddie Mac: Average long-term U.S. mortgage rates declined this week after three straight weeks of increases – which could spur would-be homebuyers to enter the market. Mortgage giants to reduce loan balances About 50,000 struggling homeowners could be eligible to...
– Western U.S. homebuyers push up new-home sales Commerce Dept.: New-home sales rose 2% in Feb. to a seasonally adjusted annual pace of 512,000; the increase is because of a 38.5% surge in sales in the West. First-time buyers may face a difficult spring The inventory of properties priced...
– Fla.’s housing market: Median prices rise in Feb. State’s single-family home median price of $200,000 up 11.1% year-to-year; condo median price up 5.6%. NAR: U.S. home sales down last month from year ago. Cities to watch: 2016’s fastest-growing places Two of the top 10 cities ranked by Forbes...
– Hispanic ownership rate up for first time in 6 years In another sign of a real estate recovery, the Hispanic homeownership rate increased from 44.5% in December 2014 to 46.7% in December 2015. Fed: Short-term interest rates unchanged Adjustable mortgage rates (ARMs) should be fairly stable until at...
– Citizens says private insurers plan to drop coverage The Fla.-owned insurer claims that private firms will move 24K policies back into Citizens because the Fla. Legislature ignored assignment-of-benefit abuses. Tech changes make Realtors’ jobs easier – and harder RealtyTrac added “nearby criminal offender risk” to a report any...
– Do buyers like the new mortgage disclosure rules? A survey of people who bought two homes – before and after the new TRID rules went into effect – found the process easier to understand but tougher to complete. FEMA criticized on flood policies FEMA, which oversees the national...
– Hey renters: It’s time to buy a home Buyers should jump into the market quickly to avoid higher mortgage rates, higher selling prices and a crowd of other buyers who also waited to shop for a home. NAR survey: U.S. needs single-family construction A majority of households (75%)...
– The annual hot home buying season starts April 1 Home sales in Fla. and the nation traditionally ramp up in spring and early summer. In Tampa, for example, 37% of yearly home sales close between April and July. 1 million borrowers regained equity last year CoreLogic: 91.5% of...
– Buyer compromises that may be worth it Many house hunters have “the perfect home” but find during their search that they may have to give a little, especially when inventories are tight. U.S. responds to flood insurance cost complaints A report on flood insurance looked at ways to...
– Millennials like the suburbs after all NAR survey: The suburban migration is making a comeback. Year-to-year, fewer young adults chose city living and opted for homes farther out. 3 Fla. Realtor finalists for NAR’s ’30 Under 30′ The 50 finalists will soon be whittled down to 30 for...
