Mortgage Rates Continue Quick Rise Toward 7%
A 30-year, fixed-rate mortgage averaged 6.7% this week, another notable increase from last week’s 6.29%.
DBPR Extends Some License Deadlines After Hurricane
Many Fla. real estate licensees who faced a Sept. 30 deadline to renew their license now have an additional month under an emergency order signed by DBPR.
NAR: Pending Sales Drop 2.0% in Aug.
Chief Economist Yun blames rising mortgage rates, saying the market will stabilize if “mortgage rates moderate and the economy continues adding jobs.”
Real Estate ‘Reset’ Confuses Buyers and Sellers
The Fed says its rate hikes will “reset” the housing industry, but the disruption may come largely from buyer-seller confusion. If confused, people tend to do nothing.
60% of Price Surge Resulted from Remote Work
A Fed study found that every 1 percentage point increase in remote work resulted in about a 0.9 percentage point increase in housing prices.
Avoid Storm-Related Carbon Monoxide Poisoning
The U.S. consumer safety commission issued a warning: Floridians who lose power and rely on generators can die in minutes if a generator isn’t properly ventilated.
Insurers Stop for Storm – Should Return Mon.
Buyers who need property insurance to close are out of luck while a hurricane threatens Fla., but many insurers expect to start writing policies again on Mon.
Ethics Complaint Rests on ‘As Soon As Practical’
During negotiations, a listing broker created a dual (variable rate) commission arrangement on the fly and reached an agreement. But they didn’t have time to disclose that change to a potential cooperating broker. Does the Code require disclosure every single time, no matter what?
It’s Here: Answers to Many of Your Legal Hotline Questions
Florida Realtors Legal Hotline is a great resource and free member benefit, but you may not need us. Many callers ask basic-information type questions, like, “There are so many riders – which one should I use?” Here are answers to your simplest questions.
Disagreeing Realtors May Both be Right – Or Wrong
There’s often more than one way to interpret a rule. When warring sides can’t agree, it’s up to a judge, jury or panel to decide.