Impacted homes with more than 50% damage (home value only) must rebuild, and in some areas, one owner may just make repairs while a next-door neighbor must rebuild. TAMPA, Fla. (WFLA) –Between the flooding and the cleanup, Hurricane Idalia survivors have faced many hurdles. Now, a federal regulation, FEMA’s so-called “50% rule,” might cost them … Read more
The government continues routine operations, but a shutdown threat could occur again as Nov. 17 looms – but storm victims were also handed a lifeline. WASHINGTON (AP) – The threat of a federal government shutdown suddenly lifted late Saturday as President Joe Biden signed a temporary funding bill to keep agencies open with little time … Read more
Following a “Call for Action” issued by NAR Fri. night and shared by Florida Realtors Sat., Congress and the president extended government funding to Nov. 17. WASHINGTON – Flood insurance and transactions it might impact are safe for now after a down-to-the wire vote in the U.S. House that was soon passed by the Senate … Read more
While inflation rose 3.5% year-to-year in Aug. – still above the Fed’s 2% goal – it was only up 0.1% month-to-month after backing out higher gas prices. WASHINGTON (AP) – An inflation gauge closely tracked by the Federal Reserve rose in August, boosted mainly by higher gas prices. But measures of underlying inflation slowed in … Read more
NEW YORK – Mortgage rates have risen to their highest levels in more than 20 years, making it harder to afford a home. And yet, out of necessity or desire, hundreds of thousands of people buy homes every month. With the 30-year fixed rate topping 7%, NerdWallet asked real estate agents and mortgage loan officers … Read more
MIAMI – Florida leads the nation in strict building codes, and the decades of hard work have paid off in the increasing number of homes and buildings that survive each time a hurricane slashes the state. But a new report from Swiss Re, a major global re-insurance company, suggests that all those hard-won gains have … Read more
A diverse group of RE professionals – Asian, Hispanic, LGBTQ+ and women – say they will jointly oppose the “vocal minority” who fight against diversity. CHICAGO – Organizations representing Asian, Hispanic, LGBTQ+ and women professionals say persistent discrimination in housing must be stopped. Four major organizations representing diverse groups in the real estate profession have … Read more
HUD joined seven other agencies, saying that “Title VI of the Civil Rights Act of 1964 prohibits antisemitism, Islamophobia and related forms of discrimination.” WASHINGTON – The U.S. Department of Housing and Urban Development (HUD) and seven other agencies across the federal government – the Departments of Agriculture, Health and Human Services, Homeland Security, Housing and Urban … Read more
Last week, a 30-year, fixed-rate loan averaged 7.19%; a year ago, it was 6.70%. The last time rates were this high was in 2000 when home values weren’t going up. LOS ANGELES (AP) – Home loan borrowing costs climbed again this week, pushing the average long-term U.S. mortgage rate to its highest level in nearly … Read more
WASHINGTON – With a government shutdown as few as two days away, the Biden administration has started to ration federal disaster aid, delaying the delivery of about $2.8 billion in grants so the money is available in the event of a crisis, according to state and federal officials and budget documents obtained by The Washington … Read more
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