In May, experts wondered if the drop in housing starts was an anomaly, and June’s surge suggests that it was. In addition, building permits rose 7.4%. Source: Florida Realtors
NAR balks at FCC proposal, says industry needs open internet
The FCC wants to allow internet providers to charge website owners for faster loading, but NAR says that would limit consumers’ access to real estate listings. Source: Florida Realtors
Some homeowners losing confidence in their property insurer
More private S. Fla. insurers are pulling out of the market or raising rates, in large part because assignment of benefits claims make it unprofitable to stay. Source: Florida Realtors
Average mortgage rates rise above 4%
The average 30-year mortgage was 4.03% this week, passing the psychologically noteworthy level of 4% for the first time since May. Source: Florida Realtors
CFPB clarifies rule: Agents may see Closing Disclosure
The federal consumer bureau says it’s okay for lenders to share buyers’ closing disclosure with agents, and it’s announcing soon the how-to-do-it details. Source: Florida Realtors
Federal Reserve to Congress: Further rate hikes on the way
The Fed said Friday that it expects the economy to strengthen, which warrants more gradual increases in the interest rate that impacts ARMs and, indirectly, FRMs. Source: Florida Realtors
Mortgage rates spike to highest level since mid-May
The 30-year FRM averaged 3.96% this week, up from last week’s 3.88%. Freddie Mac’s chief economist blames higher global interest rates for the uptick. Source: Florida Realtors
Florida's consumers were a bit more optimistic in June
After a two-month decline, consumer sentiment in the state rose 2.1 points in June as four out of five components moved higher. Source: Florida Realtors
30-year mortgage rates hit 2017 low: 3.88%
It’s a marginal drop from last week and 15-year rates stayed the same: 3.17%. Still, fixed rates seem immune so far from the Fed’s short-term rate increases. Source: Florida Realtors
New Fla. laws go into effect July 1
7 real estate laws drafted by the Florida Legislature and signed by Gov. Scott go into effect Saturday, including a Florida Realtors priority: estoppel fee caps. Source: Florida Realtors
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