Parents can now tap into home equity to pay off student loans, and it will be easier for millennial buyers to qualify. But it’s not for everyone. Source: Florida Realtors
Average 30-year mortgage rate rises to 4.03%
Long-term mortgage rates rose for the first time in five weeks, and the 30-year FRM pushed above the key threshold of 4 percent. Source: Florida Realtors
Property tax cap heads to 2018 ballot
A Florida Realtors’ top legislative priority passed the Florida Legislature: In 2018, voters will have the power to make the 10% non-homestead property permanent. Source: Florida Realtors
Feb. home prices rose at fastest pace in 3 years
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
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