One year ago, mortgage rates started their rise, and people scrambled to buy homes. That means stats comparing March 2023 to March 2022 won’t make a lot of sense. CHICAGO – Are negative headlines about the housing slowdown giving homebuyers the jitters just as the busy spring season approaches? Homebuilders think so. Nearly 80% of … Read more
It’s the fifth weekly increase in a row. Last week, the 30-year, fixed-rate loan averaged 6.65%. One year ago, it was 3.85%. WASHINGTON – The average long-term U.S. mortgage rate rose for the fifth straight week to its highest level since breaching 7% in November, just as the spring buying season gets ready to kick … Read more
On March 16, an online webinar called “Records Access – What You Should Know!” will be hosted by DBPR reps, Fla.’s condo ombudsman and the Fla. Bar. TALLAHASSEE, Fla. – An online educational webinar on Florida’s condo regulations will take place on Thursday, March 16, from noon to 1 p.m. Realtors®, unit owners, board members, … Read more
After three increases, Fannie Mae’s monthly consumer index found a 3.6-point drop in Feb. when 44% of owners said it’s a bad time to sell, up from 39% in Jan. WASHINGTON – After six uplifting weeks of positive inflation reports, the economy turned on a dime when it became clear inflation had not yet been … Read more
It’s okay for others to say you “really know how to stretch a dollar.” Bootstrapping means finding tools that maximize your services while minimizing costs. NEW YORK – To “bootstrap” a business means moving it forward without spending a major amount of money – or no money at all. That savings can apply to new … Read more
In testimony before Congress Tuesday, Fed Chair Powell said the economy is “stronger than expected” and the “ultimate level of interest rates is likely to be higher.” WASHINGTON (AP) – The Federal Reserve could increase the size of its interest rate hikes and raise borrowing costs to higher levels than previously projected if evidence continues … Read more
A scam converts Airbnb listings into discounted “Home for sale” ads targeting first-time buyers. If a buyer asks to tour the home, the scammer rents it for a day to do so. PORTLAND, Ore. – Airbnb hosts in Oregon are warning of a new scam, saying that some guests could be using local Airbnb properties … Read more
The pandemic cut the number of foreign buyers traveling to the U.S., but the first wave is reappearing. A Miami condo has seen a 30% increase in Brazilian buyers. NEW YORK – Real estate insiders say they’ve seen a resurgence in foreign buyers to the U.S. market after the pandemic made them virtually nonexistent. Levels … Read more
The S&P CoreLogic Case-Shiller index showed a 5.8% annual gain in home prices for Dec., down from 7.6% through the 12-month period ending in Nov. NEW YORK – The prospects for a weakening U.S. economy and higher interest rates suggest that the average price increase for a home is likely to continue to slow after … Read more
Jan. median rent rose 2.4% year-to-year – the lowest increase since summer 2021 – since topping out at an almost 18% year-to-year increase last March. LOS ANGELES (AP) – The cost of renting an apartment is easing after skyrocketing in recent years, though it remains painfully high for many Americans. The U.S. median rent rose … Read more
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