[ad_1] Sacramento, Calif. — State Farm will discontinue coverage for 72,000 houses and apartments in California starting this summer, the insurance giant said this week, nine months after announcing it wouldn’t issue new home policies in the state. The Illinois-based company, California’s largest insurer, cited soaring costs, the increasing risk of catastrophes like wildfires and … Read more
[ad_1] Millions of Americans are getting a measure of relief when it comes to keeping a roof over their head: After skyrocketing during the pandemic, rent is falling nationwide. According to a new report from apartment marketplace Rent.com, the national median rent for residential properties fell 0.78% in December of 2023 compared to a year ago … Read more
[ad_1] Although U.S. women still trail men when it comes to pay, they are pulling ahead financially in one important way of building wealth: homeownership. A recent study from LendingTree shows that single women own 2.7 million more homes than their male counterparts, with roughly 13% of those women holding the titles to their homes, compared … Read more
[ad_1] Washington — A Texas-based housing developer and mortgage lender is accused of targeting members of the Houston area’s Hispanic community by offering loans to people who could not pay them back, selling them land in disrepair and taking advantage of language barriers. Prosecutors allege Colony Ridge Development, LLC, and its subsidiaries carried out a … Read more
[ad_1] New real estate data shows sellers incurring more losses, sales down New real estate data shows sellers incurring more losses, sales down 02:14 Homebuyers faced a tough real estate market this year, with home prices continuing their upward march and mortgage rates reaching their highest levels in more than 20 years. Making matters worse, … Read more
[ad_1] With inflation and interest rates remaining elevated, some U.S. homeowners are having trouble keeping up with their mortgage payments. The average interest rate for a conventional 30-year fixed-rate mortgage now hovers around 8%, its highest level since 2000. Homeowners struggling to make their monthly loan payments have several options. Request forbearance Your lender or loan servicer can grant forbearance, … Read more
[ad_1] The highest mortgage rates in more than two decades have many Americans wondering when borrowing costs could recede. For now, the answer is murky, although some analysts think that rates on home loans have likely peaked. The path for mortgages depends as ever on the Federal Reserve’s plans for its benchmark short-term lending rate. … Read more
[ad_1] Days after Tropical Storm Hilary battered the West Coast with record rainfall, flash floods and fierce winds, Californians now face another challenge: Figuring out the costs of repairing their battered homes and replacing valuables. Climate change has put more Americans in the locus of storms and other extreme weather events that could have devastating … Read more
[ad_1] The typical age to buy a first home has jumped to 36 years old, the oldest ever for first-time homebuyers and a sign that high housing costs and mortgage rates are pushing homeownership out of reach for younger Americans. In 2021, the typical first-time homebuyer was 33, according to 2022 data from the National … Read more
[ad_1] Fewer options for property insurance in Florida Fewer options for property insurance in Florida 02:30 AAA will not renew the auto and home insurance policies for some customers in Florida, joining a growing list of insurers dialing back their presence in the Sunshine State amid a growing risk of natural disasters. “Unfortunately, Florida’s insurance … Read more