New FHFA Rule May Raise Cost of Second-Home Mortgages
After April 1, Fannie and Freddie will buy fewer second-home mortgages. That increases lenders’ risks and will likely translate into higher fees and/or interest rates.
Builder Confidence Drops: Demand Strong, Supplies Expensive
March confidence remained strong for buyer traffic, but late deliveries coupled with higher prices, notably for lumber, bumped builders’ confidence index down 2 points.
Regulators Eye Citizens Insurance Rate Increases
Will Fla.-owned Citizens Insurance rates go up an average 7.3%? Fla. regulators questioned Citizens officials Monday and are analyzing the request.
First-Time Buyers Have Advantages Over Repeat Buyers
First-timers may have more flexibility than buyers who must sell a home first, plus access to more financing options like grants or down payment assistance.
Flood Insurance 2.0: Congress Updates Its Analysis
National flood insurance will undergo a seismic change for homebuyers on Oct. 1, 2021, and for existing homeowners on April 1, 2022. Under “Risk Rating 2.0,” policy rates will be individualized based on a specific home rather than a general blanket rate based on flood zones.