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Whitmer signs bills loosening mortgage lending restrictions Gov. Gretchen Whitmer signed legislation loosening restrictions on the state’s housing authority to provide mortgages to Michigan residents. House Bill 5032, passed by the state Legislature late last year with some bipartisan support, allows the Michigan State Housing Development Authority to remove 2009-era price caps that limited borrowers using the…
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…
Owning a home is a keystone of wealth… both financial affluence and emotional security.