While the average long-term mortgage rate has increased three out of four weeks this month, it is still lower than the high of 7.79% in October. LOS ANGELES — The average long-term U.S. mortgage rate climbed to a six-week high this week, pushing up borrowing costs for homebuyers already facing the challenges of rising housing … Read more
Many Americans say renting suits their lifestyle more than owning right now. The decision to rent or buy is a complex one, a new survey found. NEW YORK – Last year was tough for potential home buyers: Prices and mortgage rates were high, while the number of homes available was low. But even if rates … Read more
The IRS is rewriting its commonly received notices using simpler language to make them “shorter, clearer and easier to understand,” Treasury Secretary Janet Yellen said. WASHINGTON — The IRS wants to rewrite its complicated letters to taxpayers and speak to people in plain English. The federal tax collector is rewriting and sending out commonly received notices … Read more
Home prices in several Florida metro areas have the highest chances of dropping while prices in other parts of the U.S. will go up through November 2024, CoreLogic said. NEW YORK – Mortgage rates are pulling back from their dream-crushing highs of last year, but homeowners in 20 U.S. cities may want to brace for … Read more
2024 RE Trends panel: Helping new retirees and relocating workers find affordable housing while feeling a sense of belonging and community is vital to Fla.’s future. ORLANDO, Fla. – Florida continues to attract retirees, businesses and workers relocating for new opportunities, but creating a sense of belonging and community– along with affordable housing – will … Read more
“Overall, we expect 2024 to be a better year than 2023 for homebuyer affordability and the mortgage industry,” Fannie Mae’s chief economist said. WASHINGTON – The housing market will begin a gradual return to a “more normal balance” in 2024, and mortgage rates are expected to end the year below 6%, Fannie Mae analysts said. … Read more
In 2024, buyers will be looking for homes with AI-driven tech, large windows and EV charging stations, among other amenities. NEW YORK – Real estate professionals must know about the latest market trends, including the latest on innovative materials, systems and products to live more sustainably, as well as how to maximize every foot of … Read more
The average long-term U.S. mortgage rate dropped to 6.6%, the lowest level since May 2023, when it was 6.57%. LOS ANGELES — The average long-term U.S. mortgage rate fell this week to its lowest level since May, welcome news for prospective homebuyers facing rising home prices and intense competition for relatively few properties on the … Read more
HUD Secretary Marcia Fudge told a congressional committee she is open to changing FHA mortgage insurance policies to those similar to conventional loans. WASHINGTON – Secretary of the U.S. Department of Housing and Urban Development (HUD) Marcia Fudge suggested to a congressional committee that the department could consider eliminating life-of-loan premium requirements for mortgages backed … Read more
Fla. Realtors chief economist: “Florida weathered the storm” of higher interest rates and ongoing inflation making 2023, a “rough year for residential real estate.” ORLANDO, Fla. – As 2023 ended, Florida’s inventory of for-sale existing homes and condo properties showed gains over 2022, while statewide median sales prices continued to rise year-over-year despite higher interest … Read more
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