The state reviewed claims to Heritage Property & Casualty Insurance following Hurricane Ian and found the company violated Florida insurance laws. TALLAHASSEE, Fla. — A property-insurance company has agreed to pay a $1 million fine after a state review found it violated claims-handling requirements following Hurricane Ian, according to an order signed Thursday by … Read more
Industry leaders said AI and AR will continue to be important in real estate and stressed the importance of embracing new technology. WASHINGTON – Tech leaders took the stage at the 2024 Realtor® Legislative Meetings to discuss the integration of cutting-edge technologies such as artificial intelligence (AI) and augmented reality (AR) into real estate business … Read more
Borrowing costs on 30-year and 15-year mortgages declined this week to 7.09% and 6.38% respectively after five weeks of increases. LOS ANGELES — The average rate on a 30-year mortgage fell for the first time in four weeks, a slight relief for home shoppers already facing the challenges of rising housing prices and a shortage … Read more
A lawsuit says a state law restricting property ownership by people from China and six other countries is “based on stereotyped and xenophobic generalizations.” TALLAHASSEE, Fla. — Almost exactly a year after Florida lawmakers and Gov. Ron DeSantis approved a measure to restrict property ownership by people from China and six other countries, housing and … Read more
NAR and other housing groups say it’s a critical step in addressing some of the national real estate market’s biggest challenges. WASHINGTON – A group of lawmakers on Capitol Hill have announced the new Bipartisan Congressional Real Estate Caucus, which will address the lack of housing affordability and inventory nationwide. The National Association of Realtors®, … Read more
WASHINGTON – A house is typically the largest investment people make. It keeps some up at night, worrying if they’ve budgeted properly to afford the downpayment and the maintenance of the home on top of their regular expenses like food and transportation. The process is an emotional one. Help potential buyers by walking them through … Read more
While the Fed doesn’t set mortgage rates, it influences them. Even with higher rates, it could be a good time to buy, one economist said. NEW YORK — Mortgage rates, credit card rates, auto loan rates, and business loans with variable rates will all likely maintain their highs, with consequences for consumer spending, after the … Read more
The new Reconsideration of Value policy requires lenders to provide a pathway for borrowers to request reviews of home appraisal valuations. WASHINGTON – The Federal Housing Administration (FHA) and Federal Housing Finance Agency (FHFA) today announced new policies that will allow borrowers to challenge property appraisals if they believe the appraisals were inaccurate or biased. … Read more
Some of the more popular projects include adding or enclosing a porch. Remodeling demand remains high as more owners see growing equity in their homes. NEW YORK – Bathroom and kitchen remodels remain the most popular home renovation projects, according to the National Association of Home Builders (NAHB) Remodelers professional group. Bathroom remodels were cited … Read more
The average rate on a 30-year mortgage has increased for five consecutive weeks and is at 7.22%, the highest since November 30. LOS ANGELES — The average rate on a 30-year mortgage climbed this week to its highest level in more than five months, pushing up borrowing costs for prospective homebuyers in what’s typically the … Read more
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