Fla. Insurers Can’t Drop Policies Until Nov. 28
An emergency order bans Fla. property insurers from dropping customers for the next two months as the state cleans up after Hurricane Ian’s visit.
Treasury Rule Aims to Identify All Corporate Owners
Some Fla. counties have been identifying corporate ownership in RE sales, but FinCEN will now fight money laundering by creating a U.S. corporation-ownership database.
FHA to Consider Rent Payments of First-Timers
Calling on-time rent payments a good indicator of reliability, the FHA commissioner says first-time buyers may be able to include them for loan consideration.
Fla. Biz Survey to Help Recovery Efforts
The Dept. of Economic Opportunity activated the Business Damage Assessment Survey. Results will help federal, state and local agencies offer appropriate relief.
Post-Storm: Making a Property Insurance Claim
The storm has gone – what comes next? Here are the important benchmarks for an insurance claim, which can also be accessed in an easy-to-understand infographic.
Mortgage Rates Continue Quick Rise Toward 7%
A 30-year, fixed-rate mortgage averaged 6.7% this week, another notable increase from last week’s 6.29%.
DBPR Extends Some License Deadlines After Hurricane
Many Fla. real estate licensees who faced a Sept. 30 deadline to renew their license now have an additional month under an emergency order signed by DBPR.
NAR: Pending Sales Drop 2.0% in Aug.
Chief Economist Yun blames rising mortgage rates, saying the market will stabilize if “mortgage rates moderate and the economy continues adding jobs.”
Real Estate ‘Reset’ Confuses Buyers and Sellers
The Fed says its rate hikes will “reset” the housing industry, but the disruption may come largely from buyer-seller confusion. If confused, people tend to do nothing.
60% of Price Surge Resulted from Remote Work
A Fed study found that every 1 percentage point increase in remote work resulted in about a 0.9 percentage point increase in housing prices.