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Mortgage rates continue to drop, stoking housing optimism Mortgage rates continued their decline, hitting the lowest level since early February 2023. The average for a 30-year, fixed loan was 6.09%, down from 6.2% last week, Freddie Mac said in a statement Thursday. Borrowing costs have fallen significantly in recent weeks in anticipation of interest-rate cuts by…
Affordable housing development shapes vacant duplexes into 20 new units Unlivable, vacant houses in Detroit’s Virginia Park neighborhood will be revitalized to provide what the city needs: affordable housing. In a $3.9 million development project, the West Euclid Gateway development will see eight duplexes and one four-plex revamped into 20 units of multi-family housing. The…
Dan Gilbert’s new ‘fail jail’ plan would bring a 5-story medical research hub to Detroit Dan Gilbert’s real estate company is planning a new life sciences building on a large vacant development site on Gratiot Avenue at the eastern edge of downtown Detroit. This marks the first time building details have been revealed under the…
Inside Comerica’s massive new Farmington Hills office with a Plum Market cafeteria Comerica Inc. has officially opened its large new Farmington Hills office. The Dallas-based bank that was headquartered in Detroit until 2007 inked one of the largest office deals of pandemic in 2022, bringing some 2,100 of its employees to western Oakland County from three…
Owning a home is a keystone of wealth… both financial affluence and emotional security.