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As insurance costs rise, Florida homeowners are given a new option

Housing Wire

Florida is reckoning with a severe homeowners insurance crisis. The recent surge in both the frequency and intensity of hurricanes that have battered the state has prompted numerous insurers and reinsurers to exit the market , leaving Florida homeowners grappling with skyrocketing premiums and limited coverage options.

Insurance 482
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Homeowners are getting worried about flood insurance costs

Housing Wire

Homeowners are increasingly concerned with flood insurance premium hikes impacting affordability, Fannie Mae ‘s latest national flood survey showed. The latest survey is an expansion from its 2020 version and compared how homeowners’ and renters’ awareness and attitudes towards flood risk and flood insurance changed over the years.

Insurance 399
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HUD aims to help protect communities from extreme heat

Housing Wire

These include an “ extreme heat quick guide ” designed to “help communities plan for extreme heat and identify mitigation strategies,” and a dedicated webinar on the topic of extreme heat and cold. Extreme heat wrought by climate change has started to have a more pronounced impact on the housing market.

Insurance 372
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Home equity products light up a dark housing market

Housing Wire

As the housing market suffers through a drought of home sales and related mortgage originations in the current high-rate environment, home prices and home equity continue to climb, helping to spark a revival of another sector — home equity lending and investment. billion, according to a review of bond-rating and industry reports.

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As the housing market bottoms out, educating the future mortgage pro becomes paramount

Housing Wire

In 2021, Gigliotti created Axis 360 Lift , an online academy designed to educate aspiring mortgage and title professionals. Not all sides of housing have been hit as hard as mortgage lending,” Gigliotti said. Axis 360 Lift strives to offer a comprehensive understanding of the mortgage business by addressing each step of the process.

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Going to Extremes

Appraisal Buzz

Does the cost of homeowners insurance affect the price of a home? In some markets, the answer is increasingly yes. In recent years, insurance companies have pulled out of some markets altogether after sustaining massive losses due to wildfires, flooding, and other climate-related disasters.

HOA 370
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Homebuyer assistance programs rose to nearly 2,300 in 2023

Housing Wire

housing market has reached its least affordable point in decades and housing agencies have increasingly rolled out homebuyer assistance programs to tackle this issue. A total of 135 new homebuyer assistance programs were introduced in 2023, a 6% increase over the previous year.

Landlords 485