National News

Student loan forgiveness could mean homeownership for millennials

The recent order by President Joe Biden canceling tens of millions of dollars in student loan debt is good news for the real estate industry, according to a new report.

As demand for new homes cools, builders reconsider future plans

A sudden slowdown in home construction hasn’t affected the rise of new apartment buildings. Ten of the country’s top metros are set to reach five-year peaks in new-apartment construction during 2022.

Homes sitting longer on the market almost everywhere — except South Florida

Homebuyers nationwide had more time to make decisions in August with the first year-over-year increase in median days on the market since June 2020.

S&P Corelogic Case-Shiller Index: Miami home prices rose 33% in June

Though home prices are still increasing across the United States, the rate of growth is slowing, according to the latest S&P CoreLogic Case-Shiller Indices.

Share of ARM applications hits highest percentage in 15 years

More borrowers are turning to adjustable-rate mortgages to save money as interest rates climb.

Compass cuts signing bonuses following Q2 market downturn

Compass revealed big losses — to the tune of $100 million — in its second quarter report. And as a result, the firm will no longer offer equity or cash incentives to new agents.

Delray Beach ranked No. 2 city for Airbnb hosts to earn income from long-term renters

Delray Beach is the No. 2 city in the analysis for average host income in the first quarter of 2022.

RedfinNow expanding to South Florida

The expansion will bring RedfinNow into 34 markets in 16 states and Washington, D.C.

Mortgage rates fall to four-month low as buyers return to market

Homebuyers may catch a break this month as rates have come down nearly a point from the recent high on fears of a recession.

Mortgage rates fall below 5% — for the first time since April

The 30-year fixed-rate mortgage averaged 4.99% as of Aug. 4: down 0.8% from last week. The news marks the first time since April that mortgage rates have dipped below 5%.

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