U.S. Women Having Fewer Babies – and That Affects Real Estate
The fertility rate hit its lowest point in 100 years and the share of buyers with children dropped to 33% from 58% in 1985. And that changes buyers’ housing preferences.
Fed: “Racism and the Economy” Series Studies Housing Inequity
The Racism and the Economy series, sponsored by all 12 Federal Reserve Banks, examines structural racism. The March 1 conference focused on how racism, racial exclusion and predatory practices limited housing opportunities and wealth-building for communities of color.
Renters Wait for Help but Millions in Aid Not Distributed Yet
Federal aid for renters and their landlords is out there, but distribution is uneven ahead of a March 31 end to the eviction ban – though that could still be extended.
Study: How Would a 3.25% Mortgage Rate Affect Buyers?
In four Fla. cities considered, buyers with $2,500 monthly budgets would see the number of “homes I can afford” drop by about 1.5% compared to 2.75% interest rates.
Why Are Rates Rising? It’s Good – If You’re Not a Homebuyer
Even top experts fumble on mortgage rate predictions because their rise and fall is based largely on investors’ attitudes, which can turn on a dime. Currently, investors fear possible inflation – the enemy of Treasury bonds. And as bond investment falls, mortgage rates (often) go up.
Opendoor Will Pair Buyers with Agents to Submit Cash Offers
Cash carries weight during bidding wars, so Opendoor says it will back a mortgage-approved seller’s offer with cash to help give them an edge in a bidding competition.
Federal Reserve: Inflation Rise Temporary – No Rate Hikes Planned
Fed Chair Powell said Thursday that they had no plans to hike interest rates amid signs of an economic recovery. He expects inflation to accelerate but not cause a problem.
Buyers May Want to Ask Lenders: How Long to Close?
Lenders don’t always adhere to a contract’s timelines, and buyers offering a quick close in a bidding war may want to make sure their lender has their back.
Strong Job Report a Hopeful Sign for Homeowners, Landlords
A job can help homeowners in forbearance and allow renters to repay rent. In Jan., the U.S. added only 166K jobs, and Feb.’s robust 379K jobs exceeded expectations.
No. of State-Owned Citizens Policies Increased 26.4% in a Year
More Fla. homeowners are relying on the state’s “insurer of last resort.” Citizens says it’s financially sound for now thanks to investment income that has outpaced operating losses, but at the current rate, a future disaster will again force taxpayers to make up some of its expenses.