Mortgage Rates Fall to New Lows – 30-Year Loan at 2.72%
Last week, a stock market surge pushed rates a bit higher. This week, the average 30-year, fixed-rate mortgage fell once again to 2.72%, its 13th record low this year.
Fla.’s Housing Market: Sales, Median Prices, New Listings Up in Oct.
Florida Realtors’ data: Single-family home sales up 26.9% year-over-year, median sales price up 15.6%; condo sales up 30.3%, median price up 15.9%. Chief Economist O’Connor: Strong and persistent demand, coupled with worsening inventory shortages, continued to drive up home values.
Fla. Lawmakers Consider Climate Change Plans
Fla. House and Senate leaders say the state needs to address the impact of rising seas on the state’s coastal communities and suggested forming work programs.
NAR: U.S. Existing-Home Sales Jump 4.3% in October
Year-to-year, Oct. sales rose 26.6%, up for the fifth month in a row. “The housing sector has performed remarkably well” considering everything, says NAR economist.
NAR Forecast: 2021 Could Be Real Estate’s Best Winter Ever
NAR Chief Economist Yun predicts low mortgage rates (3.1%) next year, a 3% home price increase, 9% existing-home sales increase and a 23% surge in new-home sales.
Are You Lookin’ at Me? Are YOU Lookin’ at ME?
How do you get noticed online? To gain a following, you must offer something unique by first understanding your audience – and it doesn’t hurt to be funny.
Some Staging Is Ineffective – and Some Increases Liability
If a stager’s furniture is damaged when a home is on the market, who pays? Usually, it’s the homeowner. Use contracts and vet possible stagers before hiring them.
Home Construction Increased 4.9% in Oct.
The increase follows a more modest 1.9% increase in Sept. Building permits – a sign of future activity – remained steady in Oct. but are still up 2.8% year-to-year.
Mortgage Forbearance Helped Homeowners – and the RE Market
Freddie Mac: Forbearance did more than help at-risk owners. It also stopped a foreclosure surge from hurting the market and helped all homeowners retain their value.
Fla. Legislators Could Limit Covid-19 Lawsuits
Should a business be protected from lawsuits that allege COVID-19? Florida Realtors supports change, and lawmakers will likely consider the issue in 2021. They must work out details to shield businesses from frivolous claims but also keep them accountable for their actions.