LONDON – Starting Friday, Europeans will see their online life change. People in the 27-nation European Union can alter some of what shows up when they search, scroll and share on the biggest social media platforms like TikTok, Instagram and Facebook and other tech giants like Google and Amazon. That’s because Big Tech companies, most … Read more
Buyers get used to mortgage rates and incorporate them into decisions, but increases/decreases make them wonder if they should move quickly or hope they come back down. NEW YORK – Despite the highest mortgage rates in a generation, new houses continue to sell. The U.S. Commerce Department on Wednesday reported that a seasonally adjusted 714,000 … Read more
If historical lending records have systemic bias, how can artificial intelligence (AI) digest that data yet also avoid past mistakes and “algorithmic discrimination”? NEW YORK – On July 18, 2023, Federal Reserve Vice Chair for Supervision Michael Barr cautioned banks against fair lending violations arising from their use of artificial intelligence (AI). Training on data … Read more
Two companies under the Orion180 name were approved this week in another hopeful sign that legislative changes may be having a positive Fla. market impact. TALLAHASSEE, Fla. – The Florida Office of Insurance Regulation (OIR) approved two more private insurance companies as property and casualty insurers in Florida: Orion180 Select Insurance Company and Orion180 Insurance … Read more
The Mortgage Bankers Association says the number of homeowners getting forbearance mortgage help dropped 5 basis points in July and is now only 0.39%. WASHINGTON – The Mortgage Bankers Association’s (MBA) monthly Loan Monitoring Survey found that the total number of loans in forbearance decreased by 5 basis points at the end of July – … Read more
In a seasonally adjusted month-to-month comparison, July sales were 4.4% higher than June sales. Year-to-year sales were up 31.5%. WASHINGTON – New-home sales hit a 17-month high in July as construction continues to hold an outsized percentage of the home-sale market. The industry has been slowly ramping up even as the existing-home market pulls back … Read more
A judge turned down a preliminary injunction request over Fla.’s foreign-buyer law, but the plaintiffs said Monday that they’re going to appeal the decision. TALLAHASSEE, Fla. – A battle about a new Florida law that restricts people from China from owning property in the state is headed to a federal appeals court. Attorneys for four … Read more
MIAMI – At the Hammocks in West Kendall, 6,500 homeowners are anxious for a return to self-rule after seven years under the thumb of a tyrannical, secretive board of directors that is accused of stealing millions in monthly fees from their neighbors. Although the former president is in jail on theft and fraud charges, and … Read more
The state-owned insurer requested a maximum 12% hike for most residential policies and must go lower. But a condo association hike was approved at 9.2%. TALLAHASSEE, Fla. – Regulators have ordered the state-backed Citizens Property Insurance Corp. to revamp – and trim – proposed rate increases. Florida Insurance Commissioner Michael Yaworsky signed an order Friday … Read more
Inventory is low and many current homeowners with low mortgage rates aren’t budging. In marketing, it’s time to cast a wide net. LAS VEGAS – On the first day of the Inman Connect event in Las Vegas, top realty agents revealed their strategies for managing the stubborn problem of low inventory. Nneka Jenkins with Onyx … Read more
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