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In the face of persistent inflation, the Fed announced Wed. it would soon raise interest rates. That’s likely to push all types of credit rates – including mortgages – higher.
Home prices continue to rise and mortgage rates appear ready to follow. Some skittish buyers are jumping into the market now, fearful what could happen if they wait.
Buyers worried about rising interest rates and home prices pushed new-home sales to a 10-month high in Dec.
Saying it wants to save consumers billions, the consumer bureau issued a request for Americans’ junk-fee stories – iffy charges added to any financial product.
Also: May condo unit owners request a list of fellow owners who are delinquent? And what are the rules for replacing carpets with hardwood floors?
Gathering leads isn’t the goal. It’s a step. To effectively convert leads into customers, agents should know how to identify the likeliest candidates.
A 4Q 2021 NAR commercial report finds metros from Jacksonville to Miami and Naples with “the strongest overall commercial real estate market conditions.”
Nationwide, home prices rose 18.8% in Nov., and the S&P CoreLogic Case-Shiller index finds Tampa (up 29%) and Miami (up 26.6%) in 2 of the top 3 spots.
It’s not too late for these owners to save by refinancing – but if not, they also won’t feel locked into their homes, afraid to sell because “my interest rate will go up if I do.”
Consumers’ current attitudes rose even as future expectations fell. Still, the gauge of people planning to buy a home within the next six months also went up.
It’s hard to work remotely with slow internet speeds, and the $400M in fed money could expand housing options to Fla.’s 21.2% of rural areas without broadband.
Two out of three single women – the second-largest buying group – don’t need wedlock to buy a home, with 71% willing to move a future spouse in later.
Fannie’s tighter loan requirements post-Surfside collapse started Jan. 1; Freddie’s start Feb. 28. In the meantime, the list of no-loan condo projects will likely keep growing.
Of all Fla. mortgage rejections in 2020, 21.8% were Black, second only to American Indian/Alaska Native. Nationwide, the denial rate is 84% higher for Blacks.
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