Good Renters May Qualify for Mortgages Sunday
On July 10, renters who pay on time can get a home-buying boost even if they have thin credit scores – a big benefit for first-time buyers in underserved communities.
Hardest Place to Rent? Fla. and the Northeast
Study: Miami-Dade saw the fiercest renter competition in the first four months of 2022, with Orlando (2), Southwest Fla. (3) and Broward (10) also in the top 10.
Frustrated with Inventory? Get Creative
Buyers and sellers often don’t know all their options. A leaseback may convince a homeowner to sell now, for example, and buyers could learn about new mortgage options.
Recession: New Variable for Office-Space Decisions
Even companies that want workers to return to the office find it’s not that simple, and recession fears have some firms looking for ways to cut expenses.
FHA Will Ignore COVID-Era Employment Lapse
By Sept. 5, lenders must update guidelines to make it easier for salaried/hourly workers and self-employed people to qualify for a loan if they lost work during the pandemic.
States with the Most Born-And-Bred Residents?
Fla. has a lot of residents born outside the state – but one in three (35.8%) is a true Floridian. Only Nevada has a lower percentage of state-born residents.
Mortgage Rates Drop Again This Week to 5.3%
Recession fears pushed the 30-year, fixed-rate mortgage down from last week’s 5.7%, though they remain higher than the 2.9% recorded last year at this time.
Fed Concern: Consumers Worrying About Inflation
The Fed is willing to push interest rates higher, but it’s not just a supply-cost worry. If consumers expect more inflation, it can become a self-fulfilling prophecy.
Fla. Focus of 1 Out of Every 7 Out-of-State Moves
More Americans dream of moving to Fla. than other states, according to Coldwell Banker, and a high percentage of Fla. residents won’t search for a home elsewhere.
ARMs: Buyer Loan Option Tainted by Great Recession
Zero-down, interest-only adjustable-rate mortgages (ARMs) played a role in the last recession, but today’s options are safe if buyers understand the pros and cons.