Higher home prices, mortgage rates and inflation will collectively make the typical inflation-adjusted mortgage payment go up 15%, economists predict. Source: Florida Realtors
Agreement on VOW listing displays expires in Nov.
Ten years ago when the internet was young, NAR limited virtual-office website displays, but DOJ said that was wrong because it unfairly restrained competition. Source: Florida Realtors
4 form changes go into effect today
The form updates approved at Florida Realtors’ Mid-Winter meetings go live today and will be accessible via Form Simplicity and other forms vendors this morning. Source: Florida Realtors
U.S. home construction jumps 9.7% in January
Commerce Dept.: Housing starts at a pace of 1.33M – the highest since Oct. 2016. Single-family starts up 3.7%, multifamily up 19.7% and building permits up 7.4%. Source: Florida Realtors
Four form changes go into effect Feb. 20
The changes were approved at Florida Realtors’ Mid-Winter meetings and will be released in Form Simplicity and via Florida Realtors other licensed vendors. Source: Florida Realtors
2017 ends with more Fla. home sales, price gains
Florida Realtors: Single-family home sales up 1.2% over 2016, median price up 8%; condo sales up 2.9%, median price up 7.8%. Strong positive trends continued in 4Q. Source: Florida Realtors
Court ruling overturned in 'Assignment of Benefits' case
An owner with home damage has the right to assign insurance benefits to a contractor without getting his mortgage holder to agree to the arrangement. Source: Florida Realtors
Long-term mortgage rates climb for fifth straight week
The average rate on 30-year, fixed-rate mortgages shot up to 4.32% this week from 4.22% last week – its highest level since Dec. 2016. Source: Florida Realtors
NAR: Most renters want to own a home
New consumer survey says lifestyle changes are the top motivation to buy a home, followed by an improvement in finances and the desire to settle in one location. Source: Florida Realtors
Federal Reserve imposes new penalties on Wells Fargo
The lender can’t expand unless it fixes mistakes, like charging unfair fees to lock in mortgage rates, opening fake accounts and force-placing unneeded insurance. Source: Florida Realtors
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