Real Estate News 07/29/2024

Today’s News Synopsis:

Fed officials have said they are getting closer to having confidence inflation is sustainably dropping to their 2% goal. They have also said they are paying more attention to rising unemployment, another sign that cuts may be nearing.

In The News:

Yahoo Finance – “Investors are betting the Fed will use its July meeting to set the stage for a September cut“ (07-29-24)

“Most Federal Reserve watchers don’t expect the central bank to ease monetary policy this week in Washington, D.C., but they do expect policymakers to set the stage for an interest rate cut at their next meeting in September.”

CNBC –  “Homeowners insurance premiums rose 21% last year. Climate change is partly to blame, experts say“ (07-29-2024)

“Home insurance premiums rose 21% last year, according to data from Policygenius”

HousingWire –  “Reintroduced housing bill would address construction, rehab, land use and more” (07-29-24)

“A coalition of Democratic lawmakers in the U.S. Senate and House of Representatives have reintroduced a bill designed to address housing issues by rehabilitating or constructing millions of additional units in an effort to bring down costs for renters and homeowners.”

National Mortgage News – “How the 2024 election may impact housing affordability” (07-29-2023)

“An already contentious election season became more turbulent on July 21 when President Joe Biden dropped out of the presidential race, endorsing his Vice President Kamala Harris as the democratic candidate. The move came just days after the Republican National Convention, where candidate and former President Donald Trump announced Senator JD Vance as his running mate. For voters, the question remains: How do these new players’ policies stack up?”

World Property Journal – “Delinquency Rates for U.S. Commercial Property Loans Downticks in Q2” (07-29-2023)

“According to the Mortgage Bankers Association’s latest commercial real estate finance (CREF) Loan Performance Survey, U.S. delinquency rates for mortgages backed by commercial properties declined slightly during the second quarter of 2024.”