READ FULL ARTICLE ON FLORIDAREALTORS.ORG A bubble, by definition, pops and prices plummet. Look at buyer demand. Look at homeowner equity. Prices could stop going up for a bit – but it’s not a bubble. NEW YORK – Record home prices, bidding wars and other factors show a real estate market that appears eerily similar to the 2006 bubble market, although mortgage loans are much harder to get today than they were 15 years ago. A mortgage credit availability index reached almost 870 in June 2006; it was only 125 this March. Today, loans are proportionally smaller to house values and borrowers’ income; borrowers’ average credit scores are higher. Another implosion seems unlikely, with tight housing supply and strong demand likely to persist. There’s no imminent danger of a sharp appreciation in mortgage rates – though they’re likely to rise a small amount – and the U.S. Federal Reserve has purchased nearly $1 trillion in mortgage-backed securities to keep the rates down since resuming its buys in March 2020. Although rising home prices may not be as destabilizing as they were in the last bubble, they are placing homeowners in a more favorable position than renters. CoreLogic estimated that homeowners’ equity in mortgaged homes gained...

Overall sentiments among Floridians remain 19.3 points below pre-pandemic, but month-to-month consumers’ attitudes rose 1.7 points as the state slowly bounces back. GAINESVILLE, Fla. – Among Florida consumers, optimism appears to be slowly gaining ground. According to the University of Florida’s monthly consumer sentiment survey, state residents’ attitudes ticked up 1.7 points in April to 83 from March’s revised figure of 81.3. A similar national survey found consumer sentiment increased 3.4 points. “Consumer sentiment dropped at an unprecedented rate in the second quarter of 2020, when it tumbled 26 points between February and April,” says Hector H. Sandoval, director of the Economic Analysis Program at UF’s Bureau of Economic and Business Research. “One year since, consumer confidence remains 19.3 points below pre-pandemic levels, indicating that confidence has recovered at a slow pace.” Among the five components that make up the index, three increased, one decreased and one remained unchanged. CLICK HERE TO READ THE FULL ARTICLE ON FLORIDAREALTORS.ORG ...

Lower costs are coming for homebuyers seeking a Federal Housing Administration-insured (FHA) mortgage. FHA announced that it's cutting annual premiums for mortgage insurance from 0.85 percent to 0.60 percent, a move the National Association of Realtors® (NAR) says breathes new life into the program. With FHA loans, buyers pay mortgage insurance to protect FHA's funding in exchange for downpayments as low as 3 percent. "FHA mortgage products exist to serve an important mission: providing homeownership opportunities to creditworthy borrowers who are overlooked by conventional lenders," says NAR President William E. Brown. "The high cost of mortgage insurance has unfortunately put those opportunities out of reach for many young, first-time- and lower-income borrowers. Now, we have a real opportunity to get back on track." Following the Great Recession, FHA increased its monthly mortgage insurance premium from 55 basis points to 90 basis points; then, in April 2013, it increased them again due to post-recession concerns over credit risk and the need to strengthen FHA's Mutual Mortgage Insurance Fund (MMIF). At the time, however, NAR research found that the overall 80 basis point increase nixed 1.45 million to 1.65 million renters out of the market. Since then, the MMIF has shown continued good health, including...

Consumer sentiment among Floridians increased slightly in November to 90.2, up four-tenths of a point from October's revised figure of 89.8, according to the latest University of Florida consumer survey. This is the first reading after the national presidential election. Because the survey procedures attempt to spread out the interviews over every day of the month, around 40 percent were completed before the presidential election was decided, and 60 percent afterward. "Consumer sentiment in Florida remained stable throughout the presidential election process. Over the past year, consumer sentiment has fluctuated between a low of 88.1 and a high of 94.1, averaging 91.1 points," said Hector H. Sandoval, director of the Economic Analysis Program at UF's Bureau of Economic and Business Research. Among the five components that make up the index, two decreased and three increased. Perceptions of one's personal financial situation now compared with a year ago showed the greatest decrease this month, dropping 4.1 points from 84.8 to 80.7. This downturn is shared by all Floridians with the exception of those with incomes above $50,000. Opinions as to whether now is a good time to buy a big-ticket item such as an appliance rose 2.5 points, from 90.3 to 92.8. "As the election approached,...

JACKSONVILLE, Fla. – The personal builders at Generation Homes are creating a spectacular new home in the heart of beautiful Beauclerc. The five-bedroom, three and a half bath, 3,089 square foot, two-story home is conveniently located off San Jose Boulevard at 10015 Scott Mill Road. Generation Homes’ passion is to build homes in neighborhoods for families that have lasting value - for today, tomorrow and generations to come. The home is designed for comfort and utmost livability with one of two owner’s suites on the first floor, a separate library or office, laundry room, front porch and three car garage. Many buyers prefer new-construction homes because they want to direct the details — everything from the stain on the entry foyer staircase to the layout of the chef’s kitchen cabinets. "That's the beauty of choosing a new home built by Generation Homes," said Heather Allen of Cornerstone Homes Realty. "The timing for looking at this new home is excellent. Selection of cabinets and interior finishes are still available." Priced in the $460s, the home features include pavers, spacious lanai, high, smooth finish ceilings throughout, large base boards, wood door casings and wood floors. A gorgeous and functional kitchen design is accented by granite countertops, Bosch stainless...

When it comes to credit scores, numbers – namely, your three-digit score and the amount you have to pay to access it – are all that really matter. In simpler terms, it doesn't matter what type of credit score you get – whether FICO or Vantage, for instance – or where you get it, as long as the source is reputable and you receive maximum access for minimal cost. And if you don't buy into that notion, here are four fundamental reasons why seeking out a certain type of score – or ever paying for one – is a fool's errand. 1. You're looking for a needle in a haystack. There are more than 1,000 different types of credit scores currently in use, according to Experian, and each model produces a unique result depending on which of the three major credit bureaus is supplying the underlying information. In other words, you're going to have a very hard time trying to identify the exact type of credit score a given lender will use to evaluate your application. Further complicating matters, there's no way to tell whether a given lender runs the numbers based on more than one bureau's data. And even if you somehow...