WASHINGTON – In the previous financial crisis, the nation’s biggest banks were the villains. This time, they may be the heroes. Wall Street titans whose actions once angered voters on the right and left have become safe havens for anxious Americans and a source of financial backing for wounded institutions. Tens of billions of dollars … Read more
Nest Seekers Chief Economist Erin Sykes says the market’s long-term health works best if rates stay in the 6% range. After a 2% flash sale ends, sellers just hunker down. NEW YORK – While mortgage rates may have dipped slightly this week due to several bank failures, five consecutive weeks of increases have undone the … Read more
An insurance watchdog group alleges insurers illegally reduced disaster estimates after Hurricane Ian and says it will submit the crime evidence to Fla. law enforcement. ORLANDO, Fla. – An insurance industry watchdog group says that it will submit to Florida law enforcement evidence of crimes committed by insurance company employees in the aftermath of the … Read more
ChatGPT fake writing can now be used with software that imitates voices. That means a seemingly personal call from a client, title agent or friend could be a scam. NEW YORK – You have just returned home after a long day at work and are about to sit down for dinner when suddenly your phone … Read more
There is no “right way” to plan an estate – but there are wrong ways. Plans could include wills, life estate deeds, trusts and joint tenancy, individually or in combination. FORT LAUDERDALE, Fla. – Question: My daughter wants me to put my apartment into a joint tenancy with survivorship to make things easier when I … Read more
A Newsday report on Long Island, N.Y., housing discrimination led the state’s attorney general to investigate. This week she announced a settlement with Coldwell Banker. NEW YORK – Attorney General Letitia James announced on Wednesday a settlement with Coldwell Banker, putting an end to the real estate brokerage’s alleged discriminatory practices against Black, Hispanic, and … Read more
After five weeks of increases, the average rate for a 30-year, fixed-rate mortgage fell to 6.6% from last week’s 6.73%. One year earlier it was 4.16%. NEW YORK – The average long-term U.S. mortgage inched back down this week after five straight weeks of increases – good news for homebuyers as the housing market’s all-important … Read more
Multifamily starts surged 24% in Feb., suggesting future relief for renters and condo buyers, but single-family starts rose only a marginal 1.1%. WASHINGTON – Hopes for a surge in new single-family homes failed to appear in February, according to the U.S. Department of Housing and Urban Development and the U.S. Census Bureau – but overall … Read more
LOS ANGELES (AP) – Homeownership is likely to remain a pipe dream for many Americans this spring homebuying season. The nation’s worst housing slump in nearly a decade stoked hope among prospective buyers that homes could be scooped up more easily. But while prices appear to have peaked last summer, they still ended 2022 higher … Read more
Nationally, it’s 45.5%, though slightly less in the two Fla. metros noted: 41.7% in Miami (up from 31.8%) and 41.3% in Orlando (up from 33.3%). SEATTLE – Home sellers gave concessions to buyers in 45.5% of home sales recorded by Redfin agents during the three months ending Feb. 28, 2023, in a year-to-year comparison, according … Read more
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