Mortgage Rates Head Back Up, Hit 5.3%
It’s the highest level since 2009 and due, in part, to the Fed’s moves to fight inflation. One year ago, a 30-year, fixed-rate mortgage averaged 2.94%.
Is Firm Suing NAR for Antitrust Shut Down?
REX Homes backed an antitrust suit and NAR counter-sued – but “The American Genius” says multiple signs, including employee interviews, suggest it ceased operations.
Internet Scammer Faked Real Estate Sales, Rentals
Faked online sales and rentals netted a criminal $300K from 45 Fla. families. The scam included fake title companies, websites, title agents and email addresses.
Surfside Condo Collapse Settlement Nearly $1B
Pending court approval, the $997 million settlement involves developers of an adjacent building, insurance companies and other defendants.
Some Renters Must Submit ‘Highest and Best Offer’
In metros where demand outstrips supply, renter competition has created bidding wars. A few landlords, in turn, ask competitors for their “highest and best offer.”
Florida Realtors Accepts ENVY Award Applications
Know a “green” builder or developer? Urge them to enter: Winners are recognized for building in harmony with the state’s beautiful and sensitive environment.
Fla. Says $6.2M Awarded for Pandemic Mortgage Relief
The Dept. overseeing distribution has helped 386 homeowners to date and is still accepting applications. Funds used so far are about 1% of federal funding received.
State Weighing Property Insurer Rate Hike Requests
Fla. regulators will discuss three property insurers’ requests for rate hikes greater than 20% the week before the Legislature meets to consider industry-wide solutions.
Inflation Means Most Biz Owners Now Underinsured
Thanks to inflation, a business-disrupting disaster now costs more money to fix – but a study found that only 43% of businesses have increased insurance limits.
Moody’s: A Few Areas May See Price Declines
Prediction: Local home prices could drop perhaps 5%-10% in a few U.S. areas with large home price increases that far surpassed their area’s household incomes.