WASHINGTON – Mortgage applications for new home purchases increased 6.2% in March compared to a year ago and 1% compared to a month ago, according to the Mortgage Bankers Association’s Builder Application Survey (BAS). The change does not include any adjustment for typical seasonal patterns. The monthly increase underscores the impact higher home prices […]
News & Media TALLAHASEE – The state of Florida purchased about 28,000 acres, much of it in Collier and Polk counties, to be set aside conservation. One of the swaths in Polk County had been slated for an 1,876 single-family home development. The purchase, which could total more than $150 million, will now be […]
NEW YORK – Homeowners renovate their homes for a variety of reasons. Renovations can increase the value of a property and make homes safer and more comfortable. Improvements also can be made to reflect current decorating trends or to give a home a new vibe. Projections indicate over $500 billion will be spent on […]
NEW YORK – Financial literacy is a crucial skill to make informed decisions about your money. Understanding concepts like budgeting, investing and debt management is more important than ever for your financial well-being. Here are important financial topics you must know plus resources to put you on a path to thrive. Budgeting Budgeting is […]
ORLANDO, Fla.– Florida’s housing market in March and the first quarter (1Q) of 2024 reported more new listings, higher median sales prices and increased for-sale inventory (active listings) compared to a year ago, according to Florida Realtors®’ latest housing data. “Persistently high mortgage interest rates hovering well above 6% continue to challenge buyers in […]
LOS ANGELES — The spring homebuying season is off to a sluggish start as home shoppers contend with elevated mortgage rates and rising prices. Sales of previously occupied U.S. homes fell 4.3% in March from the previous month to a seasonally adjusted annual rate of 4.19 million, the National Association of Realtors said Thursday. […]
LOS ANGELES — Prospective homebuyers are facing higher costs to finance a home with the average long-term U.S. mortgage rate moving above 7% this week to its highest level in nearly five months. The average rate on a 30-year mortgage rose to 7.1% from 6.88% last week, mortgage buyer Freddie Mac said Thursday. A […]
WASHINGTON — Consumer sentiment about the U.S. economy has ticked down but remains near a recent high, with Americans’ outlook largely unchanged this year. The University of Michigan’s consumer sentiment index, released Friday in a preliminary version, slipped to 77.9 this month, down from March’s figure of 79.4. Sentiment is about halfway between its […]
NEW YORK – Mortgage rates may decline when the U.S. Federal Reserve begins reducing benchmark interest rates, but home prices are likely to remain high as inventory shortages persist. Joel Kan, deputy chief economist of the Mortgage Bankers Association, said, “We predict mortgage rates to average 6.1% by the fourth quarter of this year.” […]
NEW YORK — If you’re ready to shop for a new home, a mortgage preapproval letter shows sellers that you’re a serious buyer who can secure financing from a lender. It also gives you a clear idea of how much you may be eligible to borrow. To show lenders that you’re a qualified borrower, […]
BOCA RATON – Rent growth in the United States has returned back to the typical yearly increase for the most part, though many households are still struggling to afford rents, according to researchers at Florida Atlantic University and two other schools. Nationally, rents rose 3.53% year-over-year, in line with the typical rental increase usually […]
WASHINGTON — Federal Reserve Chair Jerome Powell cautioned Tuesday that persistently elevated inflation will likely delay any Fed interest rate cuts until later this year, opening the door to a period of higher-for-longer rates. “Recent data have clearly not given us greater confidence” that inflation is coming fully under control and “instead indicate that […]
