Summary: Mortgage rates climbed to 6.51%, the highest level since August, making homeownership more expensive and slowing the spring housing market as buyers face high home prices, insurance costs, and property taxes. Concerns about inflation and global events, including the war in Iran, have pushed rates higher and reduced expectations for Federal Reserve rate cuts. As affordability worsens, many buyers are becoming more selective, while sellers and builders are offering incentives like rate buy-downs and closing cost assistance to keep deals moving.
Area News
Home Insurance Claims: What Southwest Florida Buyers Need to Know
Buying a home in Southwest Florida? Learn why many insurance claims result in no payout and what buyers should check before closing …
Apartment Owners AvalonBay and Equity Residential Agree to Merge
AvalonBay Communities and Equity Residential announced a merger that will create a multifamily real-estate company valued at more than $50 billion, combining over 180,000 apartment …
Mortgage Rates Hit a Nine-Month High in Blow to Prime Buying Season
Mortgage rates climbed to 6.51%, the highest level since August, making homeownership more expensive and slowing the spring housing market as buyers face high home …
Florida Gov. Ron DeSantis signs sweeping farm bill banning local gas-powered equipment restrictions
Gov. Ron DeSantis signed a broad Florida “farm bill” (SB 290) that, among other things, prevents cities and counties from banning gas-powered equipment like leaf …
233 acres in Charlotte County sold to Amazon
Amazon purchased 232.73 acres near I-75 in Charlotte County (Jones Loop Road, Punta Gorda) for $20.14 million. The company hasn’t disclosed its plans, with all …
Florida Expands Legal Accreditation: What It Means for Investors & Business Owners
Synopsis The Florida Supreme Court has ended its exclusive reliance on the American Bar Association (ABA) to determine which law school graduates may sit for …
Southwest Florida continues to emerge as one of the nation’s most attractive regions for real estate investment, and the latest movement on the Winchester Ranch …
First Brands files for bankruptcy, revealing billions of dollars in liabilities
First Brands, a U.S. auto-parts maker, filed for Chapter 11 bankruptcy with at least $10 billion in liabilities and up to $10 billion in assets …
Port Charlotte resort gets new name as $200M sale closes
Blackstone Real Estate Group has purchased the Sunseeker Resort in Port Charlotte from Allegiant Travel Co. for $200 million, far below its $600M+ construction cost …
US apartment rent growth flattens in July
U.S. apartment rent growth stalled in July, with more than half of the 50 largest multifamily markets seeing month-to-month declines. The national average rent held …