REI INK

Redfin Reports Nearly One-Third of Homeowners Have a Mortgage Rate Far Below Today’s Level, Prompting Some to Stay Put

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With mortgage rates surging, some homeowners who would otherwise be selling are staying put, as moving could mean losing their ultra-low rate and getting stuck with a heftier housing bill About half (51%) of U.S. homeowners with mortgages have a mortgage rate under 4%—substantially below today’s level of 5%, according to a new report from Redfin (redfin.com), the technology-powered real estate brokerage. About one-third (32%) of all homeowners—including those without mortgages—have a mortgage rate

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Economic Growth Forecast Downgraded as ‘Soft Landing’ Appears Increasingly Unlikely

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Higher Mortgage Rate Environment Expected to Slow Housing Activity Expectations of aggressive monetary policy tightening through 2023 by the Federal Reserve are likely to further soften economic output already being weighed down by decades-high inflation and the ongoing effects stemming from the Russian invasion of Ukraine, according to the April 2022 commentary from the Fannie Mae (OTCQB: FNMA) Economic and Strategic Research (ESR) Group. The ESR Group’s latest forecast includes downgrades of 0.2 and 2.4

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WORD OF THE DAY: Approbate

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[AP-rə-beyt] Part of speech: Verb Origin: Latin, 15th century Definition: Approve formally; sanction. Examples of Approbate in a sentence “In order to build a shed, the city council needed to approbate my project with a building permit.” “My boss approbated my expenses from my trip to the trade show.” About Approbate “Approbate” is derived from Latin, mingling “ad-” (meaning “to”), “probare” (meaning “try” or test”), and “approbat,” meaning “approved.” Together the term suggests the kind

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Property Taxes on Single-Family Homes Rise Across U.S. in 2021, to $328 Billion

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Average Property Tax Also Up 2 percent, to $3,785, as Effective Rate Declines Slightly; Highest Effective Tax Rates in Illinois, New Jersey, Connecticut, Vermont, Pennsylvania ATTOM, a leading curator of real estate data nationwide for land and property data, released its 2021 property tax analysis for almost 87 million U.S. single family homes, which shows that $328 billion in property taxes were levied on single-family homes in 2021, up just 1.6 percent from

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Financing Program Created to Alleviate Housing Crisis Provides Homebuilders with Increased Access to Capital

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Homepoint New Build partners mortgage brokers with regional independent builders to accelerate new construction A new partnership in the wholesale mortgage lending industry is aimed at sparking more widespread development of new homes, alleviating the inventory woes that currently plague the real estate market. The Homepoint New Build program connects thousands of regional homebuilders throughout the country with increased access to capital through its nationwide network of local independent mortgage

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WORD OF THE DAY: Bailiwick

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[bay-li-wik] Part of speech: Noun Origin: Middle English, 15th century Definition: A bailiff’s jurisdiction; a person’s specific area of skill, knowledge, or ability Examples of Bailiwick in a sentence “Criminals who find themselves tried in his bailiwick can expect stern courtroom rules.” “I’m a novice at science, but literature is my bailiwick.” About Bailiwick Bailiwick has been in use in English since the 15th century, but only in the 1800s did it begin to be

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