Florida RealtorsŪ News
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Average 30-Year Mortgage Rate Climbs This Week
The average rate on a 30-year mortgage rose to 7.1%, the highest level since late November. The average rate for 15-year fixed-rate mortgages rose to 6.39%.
Fla. Market: Listings, Median Price Up in March, 1Q
Single-family median sales prices are up 3.9% over March 2023 and new listings increased 7.7%. The condo-townhouse median prices increased 3.1%.
Sluggish Start to U.S. Spring Homebuying Season
Home sales fell in March with rising mortgage rates, analysts said. The supply of homes on the market remains below the historical average.
Financial Literacy for Informed Decisions
Making a big purchase, like a home, requires financial knowhow that?s not often taught in school. Learning the basics can help avoid poor decisions.
Florida Sets Aside 28,000 Acres for Conservation
The state purchased land, some previously slated for development, in Collier and Polk counties to protect links to conservation areas.
5 Signs It?s Time to Renovate
Renovations can increase a home's value and make it a more comfortable living space. One of the signs it's time to renovate could be the age of the home.
Florida Home Values Skyrocket
The average Florida home value doubled in six years. Tampa and Miami tied for having the third-fastest price doubling among large U.S. cities.
U.S. Consumer Sentiment Falls Slightly
One economist said gas prices likely contributed to the decline. Most expect consumer spending to remain healthy as long as the job market holds steady.
Fed?s Powell: Rate Cuts Likely Delayed This Year
If inflation continues, long-anticipated interest rate cuts may not happen this year, the Federal Reserve chair said. Interest rates influence mortgage rates.
What Not to Do After a Mortgage Preapproval
Don?t jeopardize your chances of getting your dream home after getting preapproved for a mortgage by taking out new lines of credit or other missteps.
Rents Stabilizing, Affordability Challenging
Researchers said rent prices nationwide are becoming more balanced. In some areas of Florida, rental costs have declined slightly.
Tips for Locking In Lower Mortgage Rates
With mortgage rates hovering in the 6% to 7% range, many new buyers are looking for creative ways to save money. Temporary buydowns may be the answer.
Fannie Mae, Freddie Mac Clarify IPCs
Fannie Mae and Freddie Mac issued guidance regarding allowable interested-party contributions in light of the proposed Sitzer-Burnett verdict settlement agreement.
Housing Starts, New Permits Fall in March
New home construction starts fell 14.7% in March and overall permits are down by 4.3%. Headwinds will likely persist through April, analysts said.
