SandP CoreLogic Case-Shiller: Home prices rose 5.8% in Feb. – a rate many analysts say may not be sustainable – as listings hit the lowest point in 20 years. Source: Florida Realtors
Will mortgage rates below 4% spur market?
How long will 4% rates last? It could lead skittish buyers to act sooner rather than later – or shop for slightly a bigger home than they could afford in Jan. Source: Florida Realtors
Mortgage rates drop below 4%
Rates that surged shortly after the presidential election have surprised experts by dropping again. This week’s average FRM, 3.97%, is the lowest since Nov. 2016. Source: Florida Realtors
Major changes coming to credit score calculations
The changes, however, might not help mortgage borrowers since Fannie Mae and Freddie Mac still require a FICO score for eligibility. Source: Florida Realtors
Housing starts fell in March – but no big deal
Starts fell 6.8% last month, but they’re 8.1% higher for the first quarter. Analysts think a mild winter may have boosted Jan.-Feb. and dinged March results. Source: Florida Realtors
More owners opting for a cash-out refi mortgage
45% of homeowners who refinanced in 4Q 2016 borrowed more money than they owed. The last time cash-out refis surged was during the pre-recession boom. Source: Florida Realtors
Average 30-year mortgage rate falls to 2017 low: 4.08%
Long-term mortgage rates have been hard to track and even harder to predict this year. The FRM hit a 2017 high recently only to drop this week to a new 2017 low. Source: Florida Realtors
Millennial owners' advice to peers: Get off the sidelines
Survey: Young adults who recently bought a home think their friends should do so too. 80% said it helps financially; 86% said it’s cheaper than renting. Source: Florida Realtors
NAR: Vacation home sales plummet in 2016
Investment buyers picked up as vacation buyers pulled back. Vacation home trends: More took out a mortgage and more planned to use the home for short-term rentals. Source: Florida Realtors
Most consumers think their insurance covers flooding
The national flood program might be in better financial shape if more homeowners knew they needed coverage. A recent study found that 56% do not. Source: Florida Realtors
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