Mortgage Rates Move Higher After 6-Week Decline
A 30-year, fixed-rate mortgage averaged 2.87% this week, up from 2.77%. Pandemic fears that pushed rates down were boosted by positive employment numbers this week.
NAR: 19 out of 20 Metros Had Double-Digit Price Growth in 2Q
Year-to-year, the median sale price of an existing U.S. home rose 22.9% in the second quarter – to $357,900. Prices were up in 99% of markets and up double-digits in 94%.
Fla.’s Housing Market Continues Positive Trends Through 2Q
Florida Realtors’ data: Sales, new listings and median prices are up (24.3% for single-family homes, 20.8% for condos) from a year ago. Chief Economist O’Connor: Mortgage rates, while low, are no longer falling, which will gradually reduce competition until price growth falls back to a more normal pace.
Want a New Home? Builders Start to Turn Buyers Away
D.R. Horton CEO Auld calls it “foreign to us,” but his company is turning away qualified buyers due to construction supply shortages and a thin labor force.
Fla. Property Insurer Liquidates and 33K Lost Coverage
Gulfstream Property & Casualty Insurance went into liquidation on July 28, saddling the state with an estimated $60-$65 million in unpaid claims and premium refunds.