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Treasury outlines rising cost of homeowners insurance

Housing Wire

A comprehensive report on homeowners insurance released by the Treasury Department this week outlined the cost of climate challenges on homeowners. It was also released alongside the most comprehensive data on homeowners insurance in history, Treasury added. million policies.

Lending 322
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The average homeowner just gained another $25K in equity

Housing Wire

But growth began to slow during these three months, according to the CoreLogic Homeowner Equity Insights report published on Thursday. But pace of growth slowed, CoreLogic reported, as these homeowners saw an average gain of $25,000 during the year ending in June, which was down from $28,000 during the year ending in March.

Equity 508
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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.

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The cost of homeowners insurance skyrockets in Upper Midwest states

Housing Wire

Why is homeowners insurance so expensive in the Upper Midwest? This is according to an article published by the Federal Reserve Bank of Minneapolis , citing data from S&P Global showing as much as a 34% increase in homeowner’s insurance premiums nationwide over a period of seven years.

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The financial strength of US homeowners is a cushion against a downturn

Housing Wire

With the release of the CoreLogic 2024 Q1 Equity Insights report, which Logan discussed last week , and now the FHFA National Mortgage Database Aggregate Statistics , we have a lot of visibility into the financial position of the American homeowner. At the end of the pandemic, American homeowners had the best deal ever on their mortgages.

Equity 545
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Mortgage delinquency, foreclosure activity point to rising homeowner distress

Housing Wire

Sky-high home prices and elevated mortgage rates are putting increasing strain on homeowners. homeowners are struggling to stay in their homes, and market conditions theoretically put the most heat on those who bought after mortgage rates rose. higher relative to July 2023. This pipeline of data suggests that more U.S.

Mortgages 475
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Homeowners sitting on a pile of cash with $17T in home equity: CoreLogic

Housing Wire

homeowner with a mortgage added $28,000 in equity during the year ending in March 2024 — the highest year-over-year increase since late 2022. Importantly, higher prices have also lifted some 190,000 homeowners out of negative equity , leaving only about 1.8% The average U.S. of those with mortgages underwater.”

Equity 518