STARKVILLE, Miss. – Small businesses – the heartbeat of the U.S. economy – are beginning to feel the pinch of tighter credit conditions as the Federal Reserve continues to increase borrowing costs. A flurry of headlines in recent weeks has suggested a credit crunch – meaning the availability of lending gets scarcer – is already … Read more
While the survey of lenders took place before the Fed’s interest rate increase, lenders likely priced loans with that expectation. Last week’s average rate was 6.43%. LOS ANGELES (AP) – The average long-term U.S. mortgage rate edged lower this week, a modest boost for homebuyers looking for relief as a stubbornly low inventory of properties … Read more
Even economists stumble when it comes to mortgage-rate predictions, but little should change. Lenders expected Wed.’s increase and already baked it into current rates. NEW YORK – Wednesday’s interest-rate increase by the Federal Reserve has likely already been priced into current mortgage rates, suggesting little will change based, at least, on Fed decisions. Economists say … Read more
The quarter-point hike puts the benchmark rate at 5.1%, the highest in 16 years. But amid bank turmoil, the Fed also signaled future hikes could be put on hold. WASHINGTON (AP) – The Federal Reserve reinforced its fight against high inflation Wednesday by raising its key interest rate by a quarter-point to the highest level … Read more
How does Risk Rating 2.0 – a new way to bill customers who take out flood insurance – impact homeowners and buyers? WASHINGTON – Risk Rating 2.0 went into effect fully on April 1, 2022, changing the way the National Flood Insurance Program (NFIP) calculates flood insurance premiums. What is Risk Rating 2.0? Risk Rating … Read more
After three monthly increases, UF’s sentiment index fell one point, due mainly to “somewhat unexpected” concerns about the nation’s long-term economic health. GAINESVILLE, Fla. – After three consecutive monthly increases, consumer sentiment among Floridians dropped one point in April to 68.7 from a revised figure of 69.7 in March. However, national consumer sentiment increased 1.5 … Read more
Everyone gets old, and a population wave of higher-income baby-boomer buyers wants to age in place. For many of them, that means a home elevator. NEW YORK – Older people shopping for luxury homes increasingly put an elevator high on their must-have list. These clients are often mobility-challenged, says Florida-based real estate agent Russell Franchi. … Read more
WASHINGTON (AP) – The Federal Reserve is on track to raise its benchmark interest rate for the 10th time on Wednesday, the latest step in its yearlong effort to curb inflation with the fastest pace of hikes in four decades. Yet economists and Wall Street traders will be more interested in what the Fed and … Read more
There were 31,216 fair-housing complaints in 2021, a 9% year-to-year increase. Most complaints cited disabled access, with race discrimination coming in at No.2. WASHINGTON – A new study finds that fair housing complaints increased even though there were fewer agencies reporting data. When President Lyndon Baines Johnson signed the Fair Housing Act on April 11, … Read more
An inflation measure the Federal Reserve uses rose 0.3% month-to-month and 4.6% year-to-year, raising the likelihood of another rate increase in May. WASHINGTON (AP) – A key index of underlying inflation that is closely followed by the Federal Reserve remained elevated last month, keeping the Fed on track to raise interest rates next week for … Read more
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