Rent prices have fluctuated alongside home prices in this year’s housing market. More inventory can bring down prices, but some renters still struggle to meet the rental price hikes found in new construction. Seattle-based brokerage Redfin released a report this week that highlighted a 1.5% increase in asking rents for newly constructed apartments in 2024…
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The report on the Home Equity Conversion Mortgage (HECM) book of business inside the Mutual Mortgage Insurance (MMI) Fund served as another positive development for the program. The estimated economic net worth of the HECM MMI stood at $17.4 million, up from $15.4 million last year, according to the Federal Housing Administration (FHA)’s Annual Report…
Mortgage rates haven’t moved much in the past week, but Wednesday’s meeting of the Federal Reserve should give some clearer insights into where the market is headed at the end of the year. The Federal Open Market Committee (FOMC) is scheduled to announce its decision on the federal funds rate at 2 p.m. ET Wednesday,…
It’s hard to imagine something more disruptive to a housing market than a hurricane. That’s what the Tampa Bay metro area was faced with in October with Hurricane Milton, which made landfall in the area as a Category 3 storm. Milton set a record for tornado warnings with 129, and hundreds of homes were destroyed…