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Mortgage Rates Surge as Inflation Lingers
Source: US News --- Mortgage rates jumped higher for the second week in a row as investors worry sticky inflation will cause more hawkish policy decisions from the Federal Reserve. The average 30-year fixed mortgage rate rose to 6.73%, from 6.55% the previous week....
Biden admin cuts some mortgage fees amid housing affordability crisis
Source: CNN Business --- Washington, DCCNN — The Biden administration announced Wednesday a change that will save an estimated 850,000 home buyers — primarily low- and middle-income and first-time buyers — an average of $800 on home financing costs this year. The...
Miami’s hidden high ground: What sea rise risk means for some prime real estate
Source: Miami Herald --- Miami isn’t known for its majestic mountains. The tallest peaks in the South Florida landscape, in fact, are a series of landfills. The highest point south of Lake Okeechobee is the dump at Monarch Hill Renewable Energy Park, better known as...
Commercial property not immune to interest rate pressure
Source: MPA Mag --- While the current property market downturn is expected to start to level out late in 2023, the commercial property market has not been spared the effects of rising interest rates, the latest Herron Todd White data shows. Releasing its Month In...
U.S. Homebuyers Start To Regain Upper Hand in 2023
Source: Investopedia --- Chris Donoso and Yefry Rodriguez's year-long search for their home, a two-family property in Jersey City, N.J., took more than a little patience—and a motivated seller who cut the price by $10,000. "We got very lucky,'' said Donoso, a speech...
‘Home sales are bottoming out’: Are homebuyers now calling the shots in 2023 housing market?
Source: USA Today --- Buyers might finally be calling the shots in 2023, as housing inventory while still low, has started to climb up. Existing-home sales fell for the twelfth straight month in January, with year-over-year sales falling 37%, the biggest decline since...
