While flood insurance is not mandatory for homeowners outside of a high-risk area, anyone can be financially vulnerable to floods. People outside of high-risk areas file more than 25% of NFIP claims and receive one-third of disaster assistance for flooding. Residential and commercial property owners who are not located in high-risk areas should ask their agents if they are eligible for the Preferred Risk Policy, which provides affordable flood insurance protection, starting as low as $129 a year. ****Read More; Additional Facts About the National Flood Insurance Program (Pt. 3):
NEW YORK — The U.S. housing market could experience its weakest year in more than a decade as elevated mortgage rates suppress sales and keep home prices nearly flat, according to a Capital Economic s forecast. Capital Economics expects annual home sales to fall to about 4.7 million by the end of 2026, which would represent the slowest pace since 2011. After a modest recovery in 2025, homebuying activity has weakened this year as borrowing costs have increased amid renewed inflation concerns and expectations for higher Federal Reserve interest rates. “Strengthening economic growth will not provide much of a lift to the housing market, which we expect to remain in its structural malaise,” Capital Economics economists wrote, according to Business Insider. Mortgage Rates to Remain Above 6% Capital Economics expects mortgage rates to remain above 6% for at least two more years, continuing to constrain affordability and discourage homeowners with lower-rate mortgages from selling. The aver...
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