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Mortgage rates climb to 7.04% — highest in 8 months Freddie Mac’s measure of mortgage interest rates in the U.S. crossed 7% for the first time since May. The average for 30-year loans rose to 7.04%, up from 6.93% last week, according to a statement Thursday. Borrowing costs have climbed steadily in recent weeks, adding to…

These Wayne County communities saw home sales activity surge in 2024 The cities of Detroit and Dearborn saw big gains in home sales activity last year, according to a new report. The two Wayne County communities stand out, with both far outpacing the broader region in terms of growing median prices and decreasing inventory of…

This tech-designed house in North Corktown could be a trendsetter — and lower housing costs A newly built house in Detroit’s North Corktown neighborhood stands as an example of what two local architects believe could be one way out of the nation’s housing shortage. The principals with Detroit-based Houm PLLC say the goal with their…

$14.2M project would bring more apartments to Detroit’s Avenue of Fashion There’s another proposal to build new housing along Detroit’s Avenue of Fashion. A joint venture between Warren-based builder Brown Schroeder & Co. and Shelby Township-based BmK Design+Planning LLC is planning to tear down the former Fred’s Furniture Liquidation Inc. store at 20201 Livernois Ave….