For single taxpayers and married individuals filing separately in tax year 2025, the standard deduction is rising to $15,000 — up $400 from 2024. NEW YORK — U.S. taxpayers will again see higher standard deductions for 2025, allowing them to shield more of their money from taxation on future returns. The Internal Revenue Service detailed … Read more
The Commerce Department said new home sales surged by 4.1%, the highest level in over a year. Economists had expected new home sales to climb by 0.5%. WASHINGTON — New home sales in the U.S. rebounded by much more than expected in the month of September, according to a new report released by the U.S. … Read more
Florida tourism leaders plan a campaign to promote resilience and showcase unaffected areas post-Hurricanes Helene and Milton. TALLAHASSEE, Fla. — Tourism-industry leaders are once again looking to counter negative media images of Florida, this time after Hurricane Helene and Hurricane Milton caused widespread damage — including in areas of the Gulf Coast that are popular … Read more
Rates on 30-year mortgages rose to 6.54% from 6.44% last week, Freddie Mac said. Borrowing costs on 15-year fixed-rate mortgages rose to 5.71% from 5.63%. WASHINGTON – The average rate on a 30-year mortgage in the U.S. rose again this week, reaching its highest level in nearly three months. The rate rose to 6.54% from … Read more
Nearly 360,000 insurance claims have been filed in Florida due to Hurricanes Milton and Helene, mostly from residential properties in the hardest-hit areas. TALLAHASSEE, Fla. – Hillsborough, Pinellas, Manatee, Sarasota and Pasco counties are among the top in the state with the largest number of reported claims from Hurricanes Milton and Helene, according to the … Read more
The increase in new home sales shows they continue to be an appealing option. The average loan size for new homes rose to $402,658 in September. WASHINGTON – The Mortgage Bankers Association (MBA) Builder Application Survey (BAS) data for September 2024 shows mortgage applications for new home purchases increased 10.8% compared from a year ago. … Read more
Lower rates have encouraged buyers from the sidelines. In Florida, builders are offering incentives that include lot premium waivers and price reductions. WASHINGTON —The latest report from Realtor.com found that the number of homes under contract last month rose 3.5% year over year, which is a large gain compared to the 0.3% increase in August. … Read more
About 53% of homeowners who hired a contractor went over budget, and 46% faced significant delays. ST. LOUIS — Nearly 2 in 3 homeowners (63%) have gone into debt to fund a renovation, according to new research from Clever Real Estate, a St. Louis-based real estate company. With 94% of homeowners having completed a major … Read more
Pending home sales posted their biggest increase since 2021 recently, but some house hunters are starting to pull back, Redfin said. SEATTLE – Pending U.S. home sales rose 3.2% year over year during the four weeks ending October 13, the biggest increase in three years, according to a new report from the real estate brokerage … Read more
ORLANDO, Fla. — Home and business owners who need in-person help navigating hurricane-recovery resources can visit Florida Small Business Development Center Network’s mobile assistance center and Federal Emergency Management Agency (FEMA) Disaster Recovery Centers this week. The Florida SBDC, in partnership with state and federal agencies, has been on the ground in impacted communities to … Read more
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