Feb. New-Housing Starts Surpass Expectations
A disappointing dip in Jan. new-home starts was followed by a surprise surge in Feb. Economists expected about 3.2% growth but starts rose by 6.8%.
U.S. Senate OKs Permanent Daylight Saving Time
The Senate unanimously approved the time change, but now the House and President must also agree – and a few think year-round standard time would be better.
Buyer A to Buyer B: ‘Here’s $50K to Walk Away’
Buyer competition can get heated. In a legally dicey move, a Dallas-area buyer offered a second buyer with a home under contract $50K to cancel the transaction.
Mortgage Rates Climb Higher than 4%
The 30-year, fixed-rate mortgage averaged 4.16% this week, a height not seen since May 2019. Last week it averaged 3.85%; a year ago, it was 3.09%.
NAR/VA Videos Hope to Boost Veteran Housing
The first video explains the advantages of a VA loan. The second covers misconceptions and offers solutions to challenges noted by Realtors, buyers and sellers.
Fed Fights Inflation: Boosts Interest Rates 1/4 Point
The expected interest-rate increase will raise short-term borrowing costs for things like credit cards, and it often has an indirect impact on mortgage rates.
Judge Approves Receivership for Property Insurer
A judge named a receiver for Tampa-based property insurer Avatar Property & Casualty Insurance Co. for “purposes of liquidation.” Avatar has 37K policies.
Builders’ Confidence Dips Four Months in a Row
The index that measures home builders’ attitudes fell below 80 for the first time since last Sept., largely due to supply issues and interest-rate expectations.
Is the Starter Home Gone for Good?
Thanks to tight inventory and competition from institutional investors, more first-time buyers set their sights on larger homes with lots of backyard space.
As Refi Loans Decline, Equity Lines of Credit Rise
Refinancing has allowed homeowners to tap into built-up equity. If interest rates rise, however, a Home Equity Line of Credit (HELOC) may make more sense.