Attitudes turn positive: A monthly UF study of Floridians saw a 1.9-point increase overall, with a rise in current expectations as well as expectations for the future. GAINESVILLE, Fla. – In February, consumer sentiment among Floridians increased 1.9 points to 67.2 from January’s revised figure of 65.3. A similar national consumer sentiment index increased 2.1 … Read more
Owned by RMK Financial, the lender was shut down for repeated offenses, notably lying to military families applying for VA loans. WASHINGTON, D.C. – The Consumer Financial Protection Bureau (CFPB) permanently banned RMK Financial Corporation, which does business as Majestic Home Loans. In 2015, CFPB issued an agency order against RMK for, among other things, … Read more
Due to a “surprisingly resilient economy,” 58% of survey economists still predict a recession this year, but half as many think it will happen in the first quarter. WASHINGTON (AP) – A majority of the nation’s business economists expect a U.S. recession to begin later this year than they had previously forecast, after a series … Read more
In general, technology simplifies complicated tasks. It’s doing that now with writing, and it’s expected to soon speed up the mortgage-approval process. NEW YORK – Real estate already uses automation technology for various applications, including machine-learning algorithms that can identify homeowners likely to put their property up for sale in the immediate future. Chatbots can … Read more
Overall, Jan. new-home sales rose 7.2%, but the South’s 17.1% carried the three other areas that saw a decline. The Northeast saw the biggest drop at 19.4%. WASHINGTON – Sales of newly built, single-family homes in January increased 7.2% to a 670,000 seasonally adjusted annual rate from an upwardly revised reading in December, according to … Read more
MIAMI – Many prospective homebuyers sent a strong message at the start of 2023: They are done trying to buy homes in South Florida, as annual sales nosedived in January in Miami-Dade and Broward counties. For residents patiently waiting to buy a bigger house here or move to a different neighborhood for better quality of … Read more
NEW YORK – As commercial real estate investors face a reset in property values, finding off-market deals is becoming increasingly more attractive. Investors expect that they will get a better deal if they don’t have to compete for properties through a bidding process, in addition to enjoying a more straightforward path to a closing, according … Read more
A favored Fed report showed a slow-but-steady monthly inflation drop until this week. The Commerce Dept. reported a 0.6% Dec.-Jan. rise, up from 0.2% Nov.-Dec. WASHINGTON (AP) – The Federal Reserve’s preferred inflation gauge rose last month at its fastest pace since June, an alarming sign that price pressures remain entrenched in the U.S. economy … Read more
High-end clients want luxury agents – or at least agents that look like they are. Your personal brand should suggest luxury as you attend charity events or galas. NEW YORK – Before focusing on the luxury market, real estate professionals need to analyze their current personal brand to make sure it speaks to high-end shoppers. … Read more
It’s the highest average for the 30-year, fixed-rate loan since Nov. when it peaked at 7.08%. Last week it averaged 6.32%; one year ago it averaged 3.89%. WASHINGTON – The average long-term U.S. mortgage rate jumped this week to its highest level since November. Mortgage buyer Freddie Mac reported Thursday that the average on the … Read more
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