In case you missed some of the recent housing news, we’ve got you covered!
Equifax Security Breach Update
Last week, we discussed Equifax’s major security breach. Here’s an update:
- Up to 143 million U.S. consumers could be affected. Several inquiries have begun including the Consumer Financial Protection Bureau, the Federal Trade Commission, the House Financial Services Committee, the Senate Finance Committee, the office of New York Attorney General, and a lawsuit from the state of Massachusetts.
- Equifax has known of a breach since March of this year but announced it on September 7th.
- The company claims the breach earlier this year is different than the one just reported. However, sources claim the breach is from the same attackers.
Mortgage Application on the Rise
The rate of mortgage applications has jumped about 10% from last year. Here’s what you need to know:
- The housing industry is experiencing its lowest interest rates in almost a year.
- Mortgage applications were down for weeks, but after interest rates plummeted, home buyers have been on the rise.
- Buyers typically increase this time of year and luckily for them, so do sellers.
90% of Florida’s Mortgaged Properties Affected by Hurricane Irma
Hurricane Irma has impacted the majority of Florida’s properties with mortgages.
- Irma disaster areas, designated by FEMA, include over 3.1 million properties.
- To give perspective, Hurricane Harvey has affected 1.18 million properties.
- Analysts continue to measure the total damage caused by Hurricane Irma.