By Amy Connolly Forewarn, offered free to Florida Realtors members starting tomorrow, is a proactive approach to personal, professional and online safety.   ORLANDO, Fla. – Florida Realtors® announced Forewarn – an instant identity verification and risk assessment tool that provides information in seconds – launches tomorrow, Jan. 3, providinag the state’s Realtors with an added level of security when working with buyers and sellers as the new year begins. Realtors who are new subscribers will receive a welcome email with activation instructions. Members who have subscriptions through their local boards do not need additional activation. For technical support, contact
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By Matt Ott Freddie Mac says mortgage rates slid to the lowest level since May, “economy remains on firm ground with solid growth.” WASHINGTON (AP) – The average long-term U.S. mortgage rate retreated for the ninth week to reach its lowest level since May. The average rate on a 30-year mortgage dipped to 6.61% from 6.67% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.42%. Borrowing costs on 15-year fixed-rate mortgages, popular with homeowners refinancing their home loans, also inched down this week, with the average rate falling to 5.93% from 5.95% last week.
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By Amy Connolly The National Association of Realtors said declining mortgage rates “sparked a surge in interest.” WASHINGTON – Pending homes sales remained largely steady in November as compared to the previous month, according to the National Association of Realtors®. NAR found the Northeast, Midwest and West posted monthly gains in transactions while the South recorded losses. Overall, the four U.S. regions registered year-over-year declines in transactions, NAR said. The monthly Pending Home Sales Index (PHSI) – a forward-looking indicator of home sales based on contract signings – remained at 71.6 in November. Pending transactions year-over-year, were down 5.2%. An
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By Amy Connolly The Federal Housing Finance Agency also says home prices rose 6.3% year over year. WASHINGTON – October U.S. house prices increased 0.3% from September, according to the Federal Housing Finance Agency’s (FHFA) seasonally adjusted monthly House Price Index (HPI). Home prices rose 6.3% year over year. Also, the previously reported 0.6% price increase in September was revised to 0.7%. For the nine census divisions, seasonally adjusted monthly price changes from September to October ranged from -0.3% in the New England division to +1.1% in the Middle Atlantic division. The South Atlantic division, which includes Florida, saw a
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Experts say homeownership and estate planning can help close the wealth gap, which can protect assets for future generations. KEY WEST – A home is often the most valuable asset a family can own. It serves as a wealth-generating opportunity for current and future generations as the home’s value appreciates over time. Yet, for hundreds of thousands of people who inherited their land and homes from family members, these assets could be at risk. Many families have experienced problems with properties that have been passed down without a will or estate plan. These properties are referred to as heirs’ property.
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By Alex Veiga Some economists say home sales will increase in 2024 as mortgage rates ease. LOS ANGELES (AP) — Home loan financing costs eased again this week, pulling the average long-term U.S. mortgage rate down to a six-month low. The average rate on a 30-year mortgage dropped to 6.67% from 6.95% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.27%. The latest drop in rates is the eighth in as many weeks. The average rate is now back to where it was in late June. “The 30-year fixed-rate mortgage remained below 7% for
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By Amy Connolly Since March 2020, mortgage servicers have provided forbearances to approximately 8.1 million borrowers. NEW YORK – The Mortgage Bankers Association’s (MBA) announced a decrease in the number of loans in forbearance with about 130,000 homeowners currently in forbearance plans. The MBA’s monthly Loan Monitoring Survey showed the total number of loans in forbearance dropped by 3 basis points from 0.29% of servicers’ portfolio volume in the prior month to 0.26% as of Nov. 30. Mortgage servicers have provided forbearances to approximately 8.1 million borrowers since March 2020, the peak of the pandemic. In November 2023, the share
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By Amy Connolly Maria Wells, 2017 President of Florida Realtors, is among the appointees to the Commission on the Status of Women. TALLAHASSEE, Fla. — Governor Ron DeSantis announced the appointment of Leda Kelly and the reappointment of Candace Falsetto and Maria Wells to the Florida Commission on the Status of Women. The commission communicates, promotes and collaborates with hundreds of organizations in the state that are focused on women’s welfare. “We are all interested in improving the well-being of Florida women and girls – and by extension, all Floridians,” the commission says. The appointees are: Maria Wells Wells is
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By Marla Martin Florida Realtors: Florida’s single-family closed sales up 4.2% YOY, median price up 3.3% ($413K). Condo sales up 0.3%, median price up 7.5% ($330K); new listings also up. ORLANDO, Fla. – Florida’s housing market reported more new listings and higher statewide median sales prices in November compared to the previous year, according to Florida Realtors®’ latest housing data. “November brought some welcome news for Florida homebuyers, as mortgage rates started to ease and the inventory (active listings) of for-sale properties increased statewide,” says 2023 Florida Realtors® President G. Mike McGraw, a broker-associate with LPT Realty in Orlando. “The
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