3 of 4 Americans Put Homeownership Above Career
How do you define success? For 74% of people, it’s owning a home. For most people, it ranked higher than careers or even family in a Bankrate.com poll.
Buyers Doubled Down Payments in Two Years
The average down payment in this year’s first quarter was $28K (13.1% of purchase price). Two years earlier, it was $14K (10.9% of purchase price).
Rate Increases Pressure Younger Adults to Buy Now
Buyers who can still afford a home feel they must act quickly in the face of rising mortgage rates: 36% of millennials owners said it happened earlier than planned.
RE Q&A: Are Paint Color Rules Enforceable? Maybe
If an HOA’s paint-color rules haven’t been revised in decades, they’re still enforceable if nothing changed the rules. But who created these “rules”?
DeSantis Signs $109.9B Fla. Budget Into Law
A number of Florida Realtors-backed initiatives passed but still needed signed budget items to move forward. Hometown Heroes, for example, is now fully funded.
Condo Q&A: Must a Treasurer Be on the Board?
Also: If the HOA hires a property management company, what tasks require a CAM license? And is it illegal to hire someone without a license?
NAR: Home Prices Slowdown ‘Inevitable’
Chief Economist Yun said in an interview that it’s “just inevitable that home price appreciation will slow down in the upcoming months.”
Clients Don’t Know What You’re Talking About
A MoneyWise survey found top recognition for “closing costs” by two-thirds of respondents, but only 38% know what “mortgage rate” means.
Why Have Mortgage Rates Been Falling?
Mortgage rates tend to follow yields in 10-year government bonds, which have been sliding. Plus without many refinances, lenders have more money to move.
Mortgage Rates Edge Down, Still Over 5%
The average 30-year, fixed-rate mortgage was virtually unchanged this week, dropping from last week’s 5.1% to 5.09%. But the 15-year loan rate moved higher.