Last week’s economic reports included readings from the National Association of Home Builders on housing market conditions, Commerce Department reports on Housing starts and building permits issued and the National Association of Realtors® report on sales of previously owned homes. The Fed reduced its key interest rate and weekly reports on mortgage rates and first-time jobless claims were also released. Builder Confidence in Housing Market Improves, Sales of Pre-Owned Homes Rise … [Read more...]
Is It Possible To Have A Hurricane-Proof Home?
The recent total devastation of the Bahamas by hurricane Dorian reinforced the need for hurricane-proof homes in areas that are subject to this risk. Building codes have not kept up with the increasing severity of the weather. Wind Damage As an example, Florida communities, such as the Miami-Dade County area, have building codes that are designated by risk zones. The risk zones in Miami-Dade County are: Risk Category I - Buildings must be able to withstand 165 mph winds. Risk Category II - … [Read more...]
Fed Policymakers Cut Key Rate Range by .25 Percent
The Federal Reserve's Federal Open Market Committee reduced its key short-term interest rate range one-quarter percent to 1.75 to 2.00 percent during it's September meeting. While FOMC members had mixed opinions on reducing the benchmark rate range for short term loans, the post-meeting statement suggested that reducing the federal funds rate was a hedge against inflation. The federal funds rate impacts short-term consumer loan rates for autos and adjustable rate mortgages, but does not impact … [Read more...]
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