The average rate on 30-year and 15-year fixed-rate mortgages dropped this week and applications rose for the first time in six weeks, a Freddie Mac economist reported. LOS ANGELES — The average long-term U.S. mortgage rate edged lower for the first time in five weeks, a welcome shift for home shoppers this spring homebuying season. … Read more
The percentage of Hispanic and Black homeowners in Miami-Dade and Broward counties has decreased as home prices have increased. MIAMI – Since 2012, there are fewer Black and Hispanic homeowners in Miami-Dade and Broward counties, the latest U.S. Census Bureau data shows. The Census Bureau said there were 983,509 occupied Miami-Dade County residences in 2022, … Read more
CONYERS, Ga. – There are nine income tax-free states scattered across America. While tax-free income seems like paradise at first glance, it’s still important to understand the tax structures within these states are like a complex jigsaw puzzle. States still need to function, so some of the revenue puzzle pieces include sales tax, property taxes, and … Read more
With improving housing inventory, the Relitix Agent Movement Index rose in Jan., a trend that indicates real estate agents appear more confident about changing firms. LAKE GENEVA, Wis. – The Relitix’s Agent Movement Index shows that real estate agents are switching brokerages at a faster rate than in 2024 after staying put when housing inventory … Read more
NAHB: Buyers say they want smaller homes now and are looking for homes around 2,070 sq. ft., compared to 2,260 sq. ft. 20 years ago. WASHINGTON – Following a brief uptick in new home sizes in 2021, the average size of a new home continues to inch smaller – dropping from 2,479 square feet in … Read more
The switch to online records may be part of the problem. All of Florida’s 67 counties have some sort of property fraud alert program, but more people need to sign up. ORANGE PARK, Fla. – Across Florida, scammers are selling people’s land and even homes behind their backs. Officials are urging property owners to protect themselves this week. It’s called property deed … Read more
Check the paperwork and read for context. “Non-recourse” is more of a description of how a loan works than a direct term, so it could be described differently. FORT LAUDERDALE, Fla.– Question: We took out a reverse mortgage in 2011 and I thought I understood how it worked. However, having reviewed the documents, I cannot … Read more
Core inflation has declined, but housing costs remain high. Unless those costs cool, some experts doubt core inflation will return to the Fed’s 2% target. NEW YORK – Although core inflation has declined in the last year, the cost of housing continues to be stubbornly high. The cost of shelter for January increased 6% from … Read more
Fannie Mae: Homeowners aged 60+ like their homes and expect to age in place. Many feel good about their retirement financial plan and view home equity as a reserve. WASHINGTON – Older homeowners aged 60-plus years like their homes, many view the equity in those homes as a financial reserve, and a significant share are … Read more
Real estate professionals who are watching, learning, and adapting will reap the benefits of new technologies, as the industry is starting to see with generative AI. CHICAGO – It’s been a profitable few years for Big Tech – the dominant technology industry giants defined by their size, influence and financial success (namely Amazon, Apple, Google, … Read more
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