Mortgage Rates Hit 10-Week High – Rise Above 3%
The average rate for a 30-year, fixed-rate mortgage rose from last week’s 2.93% to 3.02% in one week, likely due to a surging economy and elevated inflation.
Eviction and Foreclosure Moratoriums Extended to July 31
The CDC extended the federal eviction moratorium for another month, from June 30 to July 31, further frustrating landlords. However, CDC also said it’s likely that this new deadline will be the last one. FHFA also announced that its foreclosure moratorium was extended to July 31.
Marketing Your Community? One Fla. Town Created TV Series
When a show takes place in a real town, viewers often want to visit and sightsee oft-used spots – so St. Petersburg-Clearwater created their own Amazon TV show.
Fed Chair Testifies Before Congress, Calls Inflation Temporary
Is the current inflation rate temporary or long-term? The answer has political overtones, but in testimony before Congress, Fed Chair Powell kept his “temporary” stance.
New-Home Sales Drop 5.9% as Builders Wait for Supplies
May new-home sales dropped to the lowest pace in a year, with prices up 18%. Part of the reason: 20% of builders limited sales activity to manage supply chain problems.
Survey: 7 of 10 Americans Say ‘Affordable Housing’ a Top Concern
Mortgage insurers’ 2021 survey finds 69% say affordable housing is a top concern, and 57% said the low housing supply. This year’s survey also looked specifically at race and found that Black (74%) and Hispanic (65%) respondents included an inability to save for a down payment.
Emotional Intelligence Leads to Higher Sales
Agents with emotional intelligence – an ability to read clients’ emotions – tend to make better connections and collect a higher roster of satisfied client referrals.
Supreme Court: Mortgage Overseer Structure Unconstitutional
The high court ruled that Federal Housing Finance Agency (FHFA) oversight of Fannie Mae and Freddie Mac violates the U.S. Constitution’s separation of powers.
Don’t Need 20% to Get a Mortgage – but Maybe to Buy a Home
In April, half of mortgage homebuyers put down 20%; 25% of all buyers paid with cash. While buyers have low-down mortgage options, it’s not helping much these days.
Condo Q&A: Is One General Vote OK for a Multifaceted Upgrade?
A condo complex’s major renovation includes flooring, paint, furniture and art. Is a single resident vote OK for the entire project, or does each facet require approval?