California wildfires could have ‘domino effect’ on Utah’s home insurance market

Insurance companies like State Farm and Allstate have halted new home-insurance policies in California due to rising wildfire risks, with the state experiencing eight of the ten costliest wildfires in the U.S. Insurers are now using advanced wildfire mapping tools to assess risks, leading to increased premiums and coverage cancellations for homeowners. In Utah, while some carriers are still offering coverage, the market is tightening. Homeowners are advised to manage defensible space around their properties to mitigate wildfire risks.

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Salt Lake County, central Utah receive federal funding to make homes safer

Salt Lake County and six central Utah counties will receive nearly 50% of the $6.8 million allocated for home safety improvements in the Mountain West region. The funds, awarded by the U.S. Department of Housing and Urban Development, aim to address health hazards in homes, particularly for seniors and those living independently. Salt Lake County will focus on multiple hazards, while the R6 Regional Council will prioritize modifications for seniors. The funds are reimbursable, requiring upfront spending before reimbursement.

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Homebuyers: 2025’s Ride Will Be Bumpy!

Homebuyers: 2025’s Ride Will Be Bumpy!

Home values are expected to rise 2.6% in 2025, matching 2024's growth pace.
Sales of existing homes will climb to 4.3 million in 2025, up from 4 million this year.

How Rate Cuts Could Fuel Homebuying Competition

How Rate Cuts Could Fuel Homebuying Competition

The Fed influences mortgage rates indirectly through its policy on inflation and labor market data.
Mortgage rates generally drop with Fed rate cuts, making borrowing cheaper for consumers.

Top Tips for Avoiding High Mortgage Rates

Top Tips for Avoiding High Mortgage Rates

Feeling trapped by high interest rates? Take charge with these effective strategies to secure better mortgage rates.
Review and improve your credit report and score to enhance lender confidence and secure favorable rates.

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