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Homeowner Insurance Premiums on the Rise
080603
According to the Consumer Federation of America, homeowner's insurance premiums rose 7 percent in 2001 and over 13 percent last year--with increases topping 30 percent in Iowa, Florida, and Texas. In addition to hiking premiums, insurers are imposing stricter underwriting standards, refusing to write new policies in certain states, rejecting claims, canceling policies, and minimizing coverage. The homeowner's insurance crisis can be attributed to investment losses, skyrocketing mold claims, higher property values and repair costs, and payouts that exceed premium collections.
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Overnight Interest Rates, Benchmark Bond Lower
082003
30-year fixed drops to 5.98%; 10-year Treasury down at 4.36%. Long-term mortgage interest rates were lower Tuesday, and the benchmark 10-year Treasury bond yield decreased to 4.36 percent.

The 30-year fixed-rate average fell to 5.98 percent, and the 15-year fixed-rate dropped to 5.31 percent. The 1-year adjustable was unchanged at 3.76 percent.

The 30-year Treasury bond yield declined to 5.24 percent
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Homeowners Loose Out on Taxpayer Relief
082003
Are home sellers entitled to the $500,000 tax exemption? Inman News James and Jean owned their home in northern Wisconsin between 1993 and 1998. They also owned a home in Georgia between 1993 and 1996. When they sold it, they used the now-repealed Internal Revenue Code 1034 "rollover residence replacement rule" to defer profit tax by purchasing an Arizona replacement principal residence of equal or greater cost in 1996.
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Military Vets Infiltrate Second-home Market 082003

VA loan allows borrower to buy additional house if it qualifies as 'primary residence'. The tremendous growth of the second-home market is being pushed along by the sluggish economy, shrinking 401k plans and the idea that real estate is a wise investment.
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