Mortgage Rates Drop Below 5%

AUGUST 4, 2022 At 4.99% it’s not far below, but it’s the first time in four months the 30-year, fixed-rate mortgage averaged below the psychologically significant 5% mark. WASHINGTON (AP) – The average long-term U.S. mortgage rate fell below 5% for the first time in four months, days after the Federal Reserve jacked up its

Pending Home Sales Edge 0.7% Higher in May

By Kerry Smith NAR says May’s increase in pending home sales ended a six-month skid of declines, but despite the gain, “the housing market is clearly undergoing a transition.” WASHINGTON – Pending home sales crept higher in May, ending a six-month streak of declines, according to the National Association of Realtors® (NAR). Regionally, month-over-month results

Fla. Lawmakers Pass Insurance, Condo Reforms

In a special session this week, the Florida Legislature passed a roster of bills to ease problems in the state’s insurance market, including SB 2D, which Florida Realtors heavily supported. Lawmakers also took steps to improve the safety of condo buildings. TALLAHASSEE, Fla. – Florida lawmakers met this week in Tallahassee for a special session