Benzinga, Oct. 7, 2022–Eric McConnellIn 2009, the Federal Emergency Management Agency conducted a simulation to predict the damage a Category 5 hurricane could do if it made landfall in Tampa, …
Category: Top National News
Addressing Winter Buying Challenges
The Housing Scene (UExpress), Oct. 7, 2022–Lew SichelmanMembers of the National Association of Exclusive Buyer Agents say that buying in winter comes with “unique challenges.” As the name suggests, NAEBA …
Hackers Target Eager Homebuyers With a Dumb Scam That Keeps Working
Bloomberg, Oct. 7, 2022–Natalie WongCriminals have found a novel way to intercept wire transfers for down payments. Can a small team of Secret Service agents prevent your worst real estate …
In Hurricane Ian’s Wake, Insurers and Homeowners Gear Up for Coverage Fights
Wall Street Journal, Oct. 7, 2022–Leslie Scism, Arian Campo-Flores (subscription)Litigation is looming for home insurers in Florida as cash-strapped, underinsured homeowners—paired with an aggressive plaintiffs’ bar—are expected to turn to …
In Volatile Mortgage Market, Spreads Between Conforming and Jumbo Loans Widen
HousingWire, Oct. 6, 2022–Flávia Furlan NunesQualifying borrowers can get lower rates with jumbo mortgages, as the spreads between these loans and the conforming option widened again this week. (MBA mention)https://www.housingwire.com/articles/in-volatile-mortgage-market-spreads-between-conforming-and-jumbo-loans-widen/
How a Temporary Rate Buydown Can Help Lower House Payments
Orange County Register, Oct. 6, 2022–Jeff LazersonMortgage lenders are bringing back a sometimes-popular loan program used in times of climbing interest rates. Called a 2-1 buydown or temporary buydown, it’s …
Average Long-Term U.S. Mortgage Rate Dips to 6.66% This Week
Associated Press, Oct. 6, 2022–Matt OttMortgage buyer Freddie Mac reported Thursday that the average on the key 30-year rate dipped to 6.66% from 6.70% last week. One year ago, the …
Fed Headed for 4.5%-4.75% Interest Rate by Early 2023, Evans Says
Bloomberg, Oct. 6, 2022–Matthew BoeslerThe Federal Reserve’s benchmark interest rate will probably be at 4.5% to 4.75% by next spring as central bank officials worry about high core inflation, Chicago …
Hurricane Ian: Level of Destruction to Property Market ‘Unfathomable’
Mortgage Professional America, Oct. 6, 2022–Richard TorneThe devastating hurricane that struck Florida last week and resulted in the deaths of more than 100 people will also cause long-term chaos in …
Keller Mortgage Reduces Staff For 2nd Time In 2022
National Mortgage Professional, Oct. 6, 2022–David KrechevskyKeller Mortgage, an Ohio-based mortgage lender affiliated with real estate franchise Keller Williams, this week conducted its second round of layoffs in 2022.https://nationalmortgageprofessional.com/news/keller-mortgage-reduces-staff-2nd-time-2022