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 […]
MIAMI – The national median home price is twice what it was ten years ago. Molded by a storm of inflation, tight supply and surging demand, the average home price in the U.S. went from around $200,000 to $400,000, according to a new study from Point2. However, in Florida, it took much less than […]
News & Media By Elena Cox MIAMI – While inflation has fallen from 2022 peaks, high prices are still eating into household budgets. Many Americans are paying keen attention to their finances and finding ways to reduce spending. Home prices, rent, and food inflation, as well as higher prices for gas in the last […]
News & Media NEW YORK – In real estate, people have to know, like and trust you. This ‘know-like-trust’ process creates strong bonds between real estate pros and their clients. To generate trust with potential buyers, real estate professionals should ask previous clients to review the firm online with quality feedback that others can […]
TALLAHASSEE, Fla. — In a case closely watched by business and environmental groups, a U.S. district judge Friday finalized his rejection of a 2020 move by the federal government to shift permitting authority to Florida for projects that affect wetlands. Judge Randolph Moss issued a 27-page opinion that, as he acknowledged, likely will set […]