– Federal Reserve to Congress: Further rate hikes on the way The Fed said Friday that it expects the economy to strengthen, which warrants more gradual increases in the interest rate that impacts ARMs and, indirectly, FRMs. Homebuyers: Don't believe the reality TV show myths Like most reality programs,...
– Mortgage rates spike to highest level since mid-May The 30-year FRM averaged 3.96% this week, up from last week’s 3.88%. Freddie Mac’s chief economist blames higher global interest rates for the uptick. NAR study: Home staging decreases time on market According to NAR’s 2017 Profile of Home Staging,...
– Florida's consumers were a bit more optimistic in June After a two-month decline, consumer sentiment in the state rose 2.1 points in June as four out of five components moved higher. Study: More renters expected to pursue ownership in 2017 Harvard study: “The national housing market is finally...
– 30-year mortgage rates hit 2017 low: 3.88% It’s a marginal drop from last week and 15-year rates stayed the same: 3.17%. Still, fixed rates seem immune so far from the Fed’s short-term rate increases. Millions of homeowners miss out on savings Some owners with ultra-low interest rates may...
– New Fla. laws go into effect July 1 7 real estate laws drafted by the Florida Legislature and signed by Gov. Scott go into effect Saturday, including a Florida Realtors priority: estoppel fee caps. NAR: 71% of owners say it's a good time to sell NAR’s latest consumer...
– Scott vetoes condo sprinkler bill; cites London fire The bill eased fire sprinkler mandates in Fla. condos and had almost unanimous support in the Legislature. But the London high-rise fire that killed 79 people “illustrates the importance of life safety protections,” the governor said in his veto. NAHB:...
– Fed court upholds photo copyright charge against Zillow Using photos that you found on the Internet? Don’t. A second court upheld a copyright charge last week against Zillow, though it lowered damages to $4M. Florida homestead law a 'debtor's haven'? Not always In Fla., courts cannot seize a...
– Long-term mortgage rates down slightly this week The big news is that fixed-rate mortgages didn’t go higher this week, though the drop is marginal. They averaged 3.90% compared to last week’s 3.91%. Congress tackling flood insurance extension Coverage expires in Oct. without Congress approving an extension, but it’s...
– Fla.'s home sales, median prices up in May 2017 Year-over-year, existing single-family home sales rose 7.6%, median sales price up 7.7% to $239,000. Condo sales up 8%; median sales price up 8.1% to $178,000. Citing water losses, Florida insurer approves rate hikes Citizens OK’d to raise homeowner rates...
– Citizens customers could be paying more in 2018 The state-run property insurer wants to raise homeowner rates by an average of 5.3% and commercial accounts by an average of 8.4%, but regulators must OK the hike. CoreLogic: Mortgage credit risk edges up slightly CoreLogic Q1 Housing Credit Index:...
