Mortgage Rates Hit 15th Record Low in 2020
In 2020, the all-time-low mortgage rate record has been broken on 15 occasions or 30% of the time. This week, the 30-year, fixed-rate loan averaged 2.67%.
Citizens Ins.: Steep Rate Hikes Would Discourage New Customers
The Fla.-owned “insurer of last resort” met Wed., with the board saying it intended to aggressively get smaller. Chairman Carlos Beruff called current rates artificially low; CEO Barry Gilway said new policies are cheaper than 91% of policies in the private market.
Smart Home? Take Advantage with Some Amazon Echo Tips
First things first: Don’t skip the security steps. After that, make phone calls, schedule meetings, play music and ask for info about almost anything.
Builder Confidence Drops After 3 Record-Breaking Months
At 86, the builders’ index remains in solid territory since scores over 50 show optimism. But supply costs, limited land and lack of skilled workers has taken a toll.
Worries Could Put Citizens Insurance Rate Filing on Hold
The Fla.-owned insurer’s proposed rates weren’t discussed yesterday and will now be considered Jan. 26 after critics said proposed increases weren’t high enough. Citizens is no longer the insurer of last resort, it’s “the insurer of first resort and growing rapidly,” says Chairman Carlos Beruff.
Pandemic Changed Retirement Savings Rules: Review Now
Retirement planning changed in 2020 largely as a way to help savers suddenly facing economic hard times. For one thing, it might be easier to access your money now.
Netflix Donating $25M to Combat Racism in Housing
It’s unclear why Netflix focused on housing, but its donation will “lead to a new … level of responsiveness, investment and equity in the communities that get built.”
Realtor.com Acquires Avail, Expands Move into Rental Market
Avail is designed for do-it-yourself landlords and tenants. It includes educational content, “contactless rental opportunities” and a system for online rent payments.
Rise in Homelessness Could Soon Become a Major U.S. Problem
The CARES Act provided money to house homeless people in hotel rooms, and many cities could see thousands of homeless people back on the streets as funding runs out.
Fla.-Run Citizens Insurance Proposes 3.7% Rate Hike
Every county has at least one home covered by Fla.-owned Citizens Property Ins. An average 3.7% increase is as high as 7.6% in one – but a 0.6% drop in Miami-Dade.