It’s the fifth weekly increase in a row. Last week, the 30-year, fixed-rate loan averaged 6.65%. One year ago, it was 3.85%. WASHINGTON – The average long-term U.S. mortgage rate rose for the fifth straight week to its highest level since breaching 7% in November, just as the spring buying season gets ready to kick

FHA Approves 40-Year Loan Modifications By Kerry Smith If homeowners with an FHA loan default, they may still be able to keep the house through a mortgage modification, which now includes a 40-year option. WASHINGTON – The Federal Housing Administration (FHA) published a final rule in the Federal Register, Increased Forty-Year Term for Loan Modifications,

Treasury Rule Aims to Identify All Corporate Owners By Fatima Hussein Some Fla. counties have been identifying corporate ownership in RE sales, but FinCEN will now fight money laundering by creating a U.S. corporate-ownership database. WASHINGTON (AP) – Tens of millions of small U.S. companies will be required to provide the government with details on

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

AUGUST 4, 2022 By Catherine Mesick The chief economist pointed to signs of a recession – and signs that suggest no recession. At the least, he says, the latter should block a major economic slowdown. WASHINGTON – The country isn’t officially in a recession yet, despite two consecutive quarters of national contraction of the gross

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

By Kerry Smith Attitudes about current conditions were relatively unchanged, but attitudes about the future fell more based on fears over inflation and the cost of gas, food, etc. BOSTON – American consumers’ attitudes fell a bit more in June after a decline in May, the second month in a row for a decline. The

JUNE 8, 2022 Rent Increases: 8 of Top 10 Highest Are Fla. Metros By Paul Owers FAU: At 32.8%, Fort Myers tops U.S. metros in year-to-year rent increases. S. Fla. (up 31.07%), Sarasota (30.88%) and Tampa (26.9%) also made the top five. BOCA RATON, Fla. – Rents for homes and apartments have soared nationwide over

By Gary M. Singer A widow remarried but wants to leave the family home to her sons rather than her new husband. What’s the best way to do that? FORT LAUDERDALE, Fla. – Question: I am a remarried widow and live with my husband. I bought our home before our marriage, and only my name is

By Gary M. Singer There are three types of ownership that pass property upon death, but only one usually requires probate – and it’s not “joint tenants with right of survivorship.” FORT LAUDERDALE, Fla. – Question: When a spouse passes away and the spouses owned their home with right of survivorship, should the surviving spouse go