It’s the third weekly drop in a row and down from last week’s average of 6.69% for a 30-year, fixed-rate mortgage. A year ago, rates were 5.81%. LOS ANGELES (AP) – The average long-term U.S. mortgage rate fell for the third time in as many weeks, a welcome boost for homebuyers facing a housing market that’s been held back this year by a tight inventory of homes for sale. Mortgage buyer Freddie…
Browsing Category
Home and Real Estate News
Across Fla., 214 young people are getting help with their college costs from the Florida Realtors Education Foundation as they prepare for the 2023-24 school year. ORLANDO, Fla. – As young people head off to college this fall, 214 of them from communities across Florida will receive financial help through scholarships from Florida Realtors® Education Foundation Inc. A not-for-profit corporation established by the state Realtor association, the Florida Realtors Education Foundation Inc. provides real…
Should buyers hope for lower mortgage rates later this year? Maybe a bit. Will it convince more homeowners to list their property? Probably not. CHICAGO – Ending a cycle of 10 consecutive rate hikes, the Federal Reserve voted to hold off on another increase to its key short-term interest rate. The news fueled hopes that borrowing costs for homebuyers could cool in the coming weeks, but only if the Fed continues to…
Many landlords don’t want pets, so about 1 in 5 Fla. renters (19%) say they lie to their landlord about living with a pet – roughly 504,684 undocumented animals. FORT MYERS, Fla. – Having a pet and renting a property poses challenges. Landlords are often reluctant to allow them – barking, shredded cushions and scratched furniture are some of the reasons. But figures show that 86 million households own a pet –…
Inflation and higher interest rates are taking a toll. Many are cutting back on nonessential items, such as dining out, and using credit cards for must-have purchases. DALLAS – A consumer sentiment survey on spending and summer plans by ScoreSense, a credit score monitoring product, found that about half of American consumers are feeling financial stress. As a result, they’re canceling or postponing summer vacations. Most consumers said they’re cutting expenses across…
Gov. DeSantis recently signed SB 264, which restricts, in part, the sale and ownership of certain Fla. properties to “foreign principals, persons and entities.” TALLAHASSEE, Fla. – During the 2023 session of the Florida Legislature, lawmakers passed Senate Bill 264, called “Interests of Foreign Countries.” Gov. Ron DeSantis recently signed it into law. The new law, in part, limits and regulates the sale, purchase and ownership of certain properties in Florida by specific…
U.S. News & World Report for 2023-2024: Sarasota ranked No. 5 and Naples No. 6. Fla. cities landed 7 of the top 50 spots and 12 of the top 100 spots. WASHINGTON – U.S. News & World Report calls itself “the global authority in rankings and consumer advice.” That may be an overreach, but the magazine’s city rankings carry a lot of weight with consumers. This week U.S. News & World Report…
New homeowners who “married the house but dated the rate” are tired of dating, and a surge of refinancing is expected if rates drop a full 1%. NEW YORK – Today’s buyers may love their home but hate their mortgage. However, for the foreseeable future, rates may very well stay higher than the 3% to 4% loans that made home buying more affordable through much of 2020 to 2022, notes Doug Duncan,…
NAR study: 63% of agents and brokers promote a listing’s energy efficiency, 48% say their buyers like sustainability, and 32% are concerned about climate change. WASHINGTON – Almost two out of three agents and brokers (63%) say it’s “very” or “somewhat” valuable to promote a listing’s energy efficiency, according to a new report from the National Association of Realtors® (NAR). The 2023 Realtors® and Sustainability Report – Residential examines sustainability issues facing the real…
As out-of-state and international buyers focused on Miami and other cities, more residents of those cities headed to Fla.’s smaller and more affordable towns. MIAMI – Florida’s population grew by 416,754 last year, with a whopping 318,855 of those migrating from other states, according to the U.S. Census Bureau. Many of the new residents made a bee-line to major metropolitan areas like Miami-Dade, Tampa and Orlando, adding to congestion and traffic. But…