There were a total of 20 climate disasters in the U.S. last year, resulting in losses nearing $1 billion for each one. This is according to a new report from CoreLogic and data from the National Oceanic and Atmospheric Administration. The study found that about one in every 10 homes in the U.S. was impacted by such a disaster. That equates to more than 14.5 million homes.
Winter storms impacting the heartland of the U.S. wrecked the most havoc on residences with more than 12.7 million homes. But it was hurricanes along the East Coast that cost the most with $33 billion in estimated damages. Tornadoes and hailstorms also brought severe damage to homes with estimates placing the total destruction at over $7 billion.
The West Coast and California in particular were victims of wildfires which caused $1.5 billion in damage to homes. The 2021 Dixie Fire was the second-largest wildfire in the state’s history burning just under one million acres.
Today, conforming no-point 30-year fixed mortgage rates are averaging 3.875 percent and 15-year rates are near 3.125 percent.
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