A government shutdown may pause NFIP renewals, FHA loans and other real estate activity. NAR called on Congress to prevent the disruption. WASHINGTON – The potential partial government shutdown would impact the Federal Housing Administration (FHA), National Flood Insurance Program (NFIP), mortgages and other industries related to the real estate industry. The National Association of … Read more
The average rate on 30-year mortgages rose to 6.72% from 6.6%. Borrowing costs on 15-year fixed-rate mortgages rose to 5.92% from 5.84% last week. WASHINGTON — The average rate on a 30-year mortgage in the U.S. rose this week to its highest level since late November, reflecting a recent uptick in the bond yields that … Read more
The Fed cut rates for the third time in 2024 but signaled slower reductions ahead, citing persistent inflation and economic uncertainties. WASHINGTON — The Federal Reserve cut its key interest rate Wednesday by a quarter-point – its third cut this year – but also signaled that it expects to reduce rates more slowly next year … Read more
The Code of Ethics has evolved with the industry for 100+ years. Here’s what’s new for 2025. Dear Shannon: I’m our board’s Professional Standards Administrator. I know the Code of Ethics has been around for over 100 years, the Code of Ethics and Arbitration Manual (Manual) changes along with the industry and, if there are … Read more
Florida remains a top migration leader, though new trends show issues like housing costs and career pathways as areas to address for future growth. TALLAHASSEE, Fla. — Florida gained a net total of 126,000 residents from other states in 2023, marking the first major decline in net migration in a decade, the Florida Chamber Foundation … Read more
NEW YORK — Business expenses are the ordinary and necessary costs required to run a business. Any money spent in the name of doing business can be categorized as a business expense. Every company incurs expenses in the course of doing business. Common examples of business expenses include the cost of goods and services, everyday … Read more
WASHINGTON — None of the country’s 50 largest housing markets offer affordable rent for workers who earn the federal minimum wage, says a new Clever Real Estate study. Buffalo, N.Y., has the most reasonable rent, although it takes 39% of a renter’s monthly income, far more than the commonly used 30% affordability threshold. Full-time workers … Read more
The Hometown Heroes Housing Program helps Floridians achieve homeownership with zero-interest loans for down payments and closing costs. TALLAHASSEE, Fla. — Affordable housing remains a top concern nationwide, especially in Florida, where high interest rates, limited inventory and rising home prices have made the dream of homeownership a challenge for many. Recognizing this, Florida Realtors®, … Read more
The average rate on 30-year mortgages fell from 6.69% last week to 6.6%, the lowest level since Oct. 24. The rate on 15-year fixed-rate mortgages fell to 5.84%. NEW YORK — The average rate on a 30-year mortgage in the U.S. eased for the third week in a row, welcome relief for prospective homebuyers during … Read more
Two new guides – Agency and Non-Agency Relationships and The Appraisal Process – help customers make informed decisions and highlight a Realtor’s value. ORLANDO, Fla. — The latest Consumer Guides by the National Association of Realtors® clarifies the difference between agency and non-agency relationships between buyers, sellers and real estate professionals and outlines the appraisal … Read more
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