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.
Average Mortgage Rates Break the 3.0% Barrier
At an average 3.02% for a 30-year, fixed-rate mortgage, this week’s slightly higher rate carries psychological impact. One year ago, the average FRM was 3.29%.
State-Owned Citizens Policies Increase 26.4% in One 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.
Women’s History Month: Are You Strong Enough to Lead? Yes
Chicago Realtors kicked off the month with a five-part series. “You’re not a leader if you’re not paving a path,” Rev. Courtney Clayton Jenkins told the virtual crowd.
Fla. Consumer Confidence: Feb. Drop Wipes Out Gains
While the vaccine rollout and an unemployment-benefit drop signal better times ahead, it didn’t help much to boost attitudes in Feb., and all components saw a decline.
Real Estate Pros to Homeowners: Don’t Wait to Sell
High buyer demand and slim housing inventories mean homeowners ready to sell now have more negotiating power. But those who sell may also need to buy their next home.