Metas
Real Estate News 05/01/08
HOMEOWNERS INSURANCE
Private property insurers could soon be more tightly regulated under a voluminous measure passed in the Florida House. The 120-page bill provides incentives to new insurers entering the state, reduces Florida’s potential liability, and extends Citizen’s rate freezes for another year.
INTEREST RATES
The Federal Reserve Wednesday cut interest rates by a quarter percentage point to its lowest level in nearly four years, hoping to shore up the faltering economy. The move could lower Adjustable Rate Mortgage rates but does not directly affect long-term mortgage rates.
MORTGAGE RELIEF
The Financial Services Committee is scheduled to vote on its sweeping housing rescue package on Thursday, and the full United State House of Representatives is expected to consider the package next week. Yesterday, House Democrats defeated a number of amendments proposed by Republicans.
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