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Surging mortgage rates threaten housing market momentum For a brief moment, it looked like U.S. homebuyers would finally catch a break. The housing market was beginning to thaw as mortgage rates fell in September to a two-year low. But in the past few weeks, borrowing costs have surged, by one measure even crossing 7% and…

Homeowners who bought just before pandemic are $158,000 wealthier, study finds People who took advantage of historically low interest rates to buy homes right before the COVID-19 pandemic began in early 2020 have seen their wealth grow by about $32,000 annually over the last five years — even when taking the cost of home ownership…

Gilbert-backed venue coming to downtown Detroit that you have to see to understand Dan Gilbert’s real estate portfolio Bedrock LLC has found a major tenant for its Cadillac Square development in downtown Detroit. Cosm, a Los Angeles-headquartered entertainment company, will be bringing a live sports video dome and entertainment venue to Bedrock’s vacant 3.66-acre site…

Microsoft buys 316 acres in Michigan for potential data center Microsoft Corp. has purchased 316 acres in southern Kent County from Steelcase Inc. for $45.3 million for a potential data center development, Crain’s Grand Rapids Business has learned. The irregularly shaped vacant property is located south of Grand Rapids in Gaines Charter Township, at the northwestern…