Long-Term Mortgage Rates Climb to 6.29%
The average 30-year, fixed-rate mortgage didn’t spend much time hovering around the 6% mark. It rose 0.27 percentage points this week, up from last week’s 6.02%.
Fed Raises Interest Rates 3/4 Point for Third Time
In a fight to curb inflation, the Federal Reserve pushed rates higher and will likely do so again. It impacts mortgages indirectly, but rates are still expected to move higher.
Aug. U.S. Rent Increases Outpace Fla. Increases
At 10.7%, Orlando came closest to the national year-to-year rise of 11%. It was 10.3% in S. Fla. counties – and median rents actually fell 1.8% in Jacksonville.
NAR: Aug. Existing-Home Sales Slip 0.4%
National sales declined for the seventh straight month, down 0.4% from July and 19.9% year-to-year. The median home price is still rising, however, up 7.7% in Aug.
Some Airbnb Hosts Don’t Love Airbnb
Airbnb guests don’t hold back on social media, complaining about costs, amenities and more. Now Airbnb owners are starting to complain about their guests.
Need Help or Worried About Someone? Dial 988
On July 16, the National Suicide Prevention Lifeline switched from a full phone number to just 3 digits: 988. After the number upgrade, call volume rose 45%.
Fla.’s Aug. Housing: Inventory, Median Prices Rise
Florida Realtors: Fla.’s single-family median price up 15% ($407K), condo median up 20.8% ($305K). Chief Economist: Inventory is growing but pace has slowed.
Mortgage Report: Minority Buyers Grow in 2021
The nation’s consumer bureau (CFPB) found a drop in refinances and increase in buyers, with all minority groups gaining ground in the share of homes purchased.
Why List a Home When You Can Collect Rent?
Some sellers have always opted to rent out their old home rather than sell, but skyrocketing rents have pushed even more into that landlord category.
Drop in Builder Confidence Continued in Sept.
The homebuilders’ confidence index dropped from 49 to 46 this month, where any number below 50 indicates that pessimism outweighs optimism.