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30-year mortgage interest rate edges closer to 7% The average rate on a 30-year mortgage in the U.S. edged closer to 7% this week, climbing to its highest level since July. The rate rose to 6.84% from 6.78% last week, mortgage buyer Freddie Mac said Thursday. That’s still down from a year ago, when the…

Short-term rentals quashed in Michigan vacation town as judge dismisses lawsuit A West Michigan judge has decided in favor of Park Township in a lawsuit over its ban on short-term rentals, dismissing the lawsuit and determining that all requests for exemptions to the ban must now go through the local board of zoning appeals. Ottawa…

A decade after Detroit’s bankruptcy, Gilbert sees similar turnaround for the RenCen Dan Gilbert said the Renaissance Center has “huge potential” for redevelopment as his real estate company, General Motors Co. and the city work to figure out what precisely to do with the struggling complex on Detroit’s riverfront. The founder and chairman of Rocket Companies Inc….

House speaker-elect proposes $2.7B road funding plan as state faces revenue ‘cliff’ LANSING — Incoming Michigan House Speaker Matt Hall on Friday proposed a plan to increase road funding by $2.7 billion annually, saying the issue is pressing and should be acted on during the legislative lame-duck session in December. Under Hall’s proposal, Michigan would:…