Property insurance is a hot point when hurricanes threaten Fla., but many renters don’t take out relatively affordable coverage and can suffer just as much.
With a nod to the economy having “mixed signals,” Fannie Mae’s 3Q forecast calls for a “modest contraction” and mortgage rates “settling above 7%.”
The My Safe Florida Home program could run out of funds, and homeowners are encouraged to apply soon for up to $10K grants – $2 for every $1 of matching funds.
Multifamily starts took the hardest hit, falling 26.3%. Single-family starts fell 4.3% month-to-month, though they were up year-to-year by 2.4%.
No two shutdowns are the same, but the feds would be less responsive. Some RE products – FHA, VA and Rural Housing loans, flood insurance – may see an immediate impact.
Daytona Beach, Gainesville and Orlando will each receive $500K, three metros out of only 14 selected by HUD for affordable housing grants.
Just as “predictive analysis” can identify homeowners likely to sell soon, AI broker software can identify top candidates who may be willing to make a move.
NAHB’s monthly index (1-100) based on a survey of builders’ attitudes dropped 5 points to 45 in Sept., largely because of rising 7%-plus mortgage rates.
Fla.’s state-operated “insurer of last resort” lowered its earlier request to an average 11.5% increase, with commercial complexes, including condos, rising 10.2%.
State-owned Citizens Property Ins. can levy surcharges on all insurance policies if it has heavy losses, but Idalia’s impact won’t force it do to so.
