Fear of even higher mortgage rates may be heating up winter homebuying
Mortgage rates have moved to their highest level in more than a year, and that may have potential homebuyers nervous that their affordability window is closing faster than expected. Home prices are still gaining, and winter is historically the slowest season for the housing market, but mortgage demand from buyers moved higher.
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Mortgage rates are highest since March 2020
In the second big jump of 2022, mortgage rates again rose to a high not seen since the start of the pandemic. The 30-year fixed-rate mortgage averaged 3.45% in the week ending January 13, up from an average 3.22% the week before, according to Freddie Mac. It's the highest the average rate has been since March 2020, when it hit 3.5%.
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Rocket shuffles leadership and repositions as a fintech platform
Leadership changes at Rocket Cos. are part of a strategy to not only become the nation's biggest provider of purchase mortgages in 2022, but to convince investors that they should think of Rocket and its growing stable of more than a dozen brands as a fintech platform.
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Lawsuit Filed Over Short-Term Rental
"This case illustrates the purpose of title insurance," Hart wrote in an email on Jan. 12, explaining that Henriot also claims to have an easement over property between her and Mauro's lots. "Her easement conflicts with an easement my client was granted in 1995; Henriot's title search should have discovered that prior easement."
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Mineral Reservations and Real Property in Florida
It is not unusual to find mineral reservations in the chain of title to real properties located in Florida. When the State of Florida first conveyed title to state owned lands, it was customary for the state to reserve an interest in all oil, gas and minerals on the property, including the right to drill, mine and excavate for them. These rights were not necessarily a problem if the property was being used for agricultural purposes.
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Rhode Island District Court Grants Summary Judgment in Title Insurance Coverage Appeal
The United States District Court for the District of Rhode Island recently granted a title insurance company's motion for reconsideration, holding that the insured did not suffer a loss when it lost title to two properties upon which it could not build improvements.
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