By Christopher Rugaber Rate cuts usually happen when the economy weakens. The recent strong jobs report and low unemployment have some wondering if a rate cut will happen this year. WASHINGTON — Ever since the Federal Reserve signaled last fall that it was likely done raising interest rates, Wall Street traders, economists, car buyers, would-be homeowners — pretty much everyone — began obsessing over a single question: When will the Fed start cutting rates? But now, with the U.S. economy showing surprising vigor, a different question has arisen: Will the central bank really cut rates three times this year, as
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By Jim Turner Forecasters project 23 named storms this year. Sales tax holidays this year – June 1-14 and Aug. 24-Sept. 6 – eliminate taxes on some disaster-preparedness supplies. TALLAHASSEE, Fla. – Floridians received a second reminder Thursday to brace for a busy 2024 hurricane season, as Colorado State University researchers issued a forecast pointing to warm Atlantic Ocean water that fuels storms. Philip Klotzbach, a senior research scientist in the university’s Department of Atmospheric Science, said the forecast for a “very, very busy hurricane season” is based on expected La Niña conditions in the summer, resulting in hurricane-favorable wind
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By Melissa Dittman Tracey Find out the traits that consumers say they’re looking for in real estate professionals to help them navigate a transaction, like a guide and a coach. NEW YORK –The majority of home buyers and sellers rely on real estate agents—nearly 90% of them—but they’re looking for certain types of help, and what they need could differ depending on their age and experience in the market, finds a new study from the National Association of Realtors®. Home buyers, for example, don’t just want help with finding a home, but also with negotiating and with learning about the
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By Patrick Blennerhassett Real estate pros are using AI in an advisory role for customer contact, listings and social media. They say licensed agents will always be needed. LAS VEGAS – Bruce Hiatt is hoping the integration of artificial intelligence will help take his real estate company to the next level, and in turn, could require less physical agents in the process. Hiatt, a Las Vegas-based broker who is also the owner of Luxury Realty Group, is currently beta testing an AI conversational avatar that speaks with potential homebuyers and learns from those interactions. Hiatt said they are scheduled to
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By Alex Veiga The average interest rate on a 30-year mortgage was up slightly again this week, to 6.82% from 6.79%, reflecting a consistent fluctuation over the recent weeks. LOS ANGELES — The average long-term U.S. mortgage rate rose modestly this week, holding below 7% as it has for much of this year. The average rate on a 30-year mortgage rose to 6.82% from 6.79% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 6.28%. When mortgage rates rise, they can add hundreds of dollars a month in costs for borrowers, limiting how much they
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By Amy Connolly The Florida Office of Insurance Regulation’s (OIR) said the state’s insurance market is continuing to strengthen with more carriers. TALLAHASSEE, Fla. – Another property and casualty insurer was recently approved to enter Florida’s insurance market, bringing a total of eight new insurers following legislative reforms aimed at stabilizing the market, state insurance regulators said Wednesday. The Florida Office of Insurance Regulation (OIR) said Ovation Home Insurance Exchange, the most recent approval, joins Manatee Insurance Exchange, Condo Owners Reciprocal Exchange, Orange Insurance Exchange, Orion180 Select Insurance Company, Orion180 Insurance Company, Mainsail Insurance Company and Tailrow Insurance Companies. “Florida’s insurance
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A new report from NAR found a rise in first-time buyers across all generation. Leading the charge were younger millennials, age 25 to 33. WASHINGTON – Millennials have surged ahead to become the largest group of home buyers, marking a significant shift in the housing market’s demographic landscape, according to the latest report from the National Association of Realtors®. The 2024 Home Buyers and Sellers Generational Trends report, which examines the similarities and differences among recent home buyers and sellers across generations, found that the combined share of millennials, both younger (ages 25 to 33) and older (ages 34 to 43), now
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Net general revenue in Feb. totaled nearly $3.538B, up $217.M, or 6% higher than projected. Analysts said the sales-tax portion could be misleading. TALLAHASSEE, Fla. – State general-revenue tax collections were more than 6% higher than anticipated in February, though economists cautioned that part of that result could be deceptive. The Legislature’s Office of Economic & Demographic Research released a report that showed net general revenue in February totaled nearly $3.538 billion, which was $217.6 million more than projected in a forecast released in January. Sales-tax collections, which are the biggest part of general revenue, came in at almost $2.844
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By Adriana Morga Guard against identity theft during tax season. Use password manager to safeguard passwords, don’t pick up unknown calls and verify information in ways you trust. NEW YORK – Tax season can come with several headaches, from gathering documents to finding the time to sit down and file. But one pain that you want to avoid is falling for a tax scam. Year-round, scammers look for ways to trick people into giving them money or personal information. There are several common types of scams during tax season, so people should be on the lookout for red flags, said
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Turnkey properties, popular among real estate investors, allow for passive income streams but often may come with hidden costs. NEW YORK – If you’re in the market for an investment property, there’s a good chance you’ve heard about turnkey real estate. A turnkey property can seem like a surefire way to see a quick return on your investment. But, as anyone who has dabbled in real estate before surely knows, if something sounds too good to be true, it probably is. Whether you’re toying with the idea of buying a turnkey property or have just heard about it, it’s good
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