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Mortgage rates dip for first time in weeks while consumer confidence wavers Mortgage rates in the U.S. fell for the first time in three weeks. The average for 30-year loans was 6.65%, down from 6.67% last week, Freddie Mac said in a statement Thursday. The 15-year rate, popular with refinancers, ticked up 6 basis points…
Demographics, high housing costs drive growth for property management firm With a highly fragmented industry and more young people holding off on owning a home, metro Detroit entrepreneur Jeff Hurley sees room for considerable growth in the residential property management space. Hurley — the owner of Troy-based Real Property Management Metro Detroit franchise operation —…
An observation deck for the RenCen? They make millions for skyscrapers. Observation decks like the one on top of the Willis Tower in Chicago and the Edge in New York City offer huge skyline views — and huge revenue. While Detroit doesn’t have a sky-high vantage point like that currently, it could get one in…
Heidelberg Project sells Detroit headquarters building Detroit’s famed Heidelberg Project has sold its headquarters building. The Detroit Food Academy, a nonprofit that teaches Detroit youth about food entrepreneurship, purchased the 4,500-square-foot building at 3442 McDougall St. for $360,000, Heidelberg said in a news release. The Heidelberg Project, the nonprofit behind artist Tyree Guyton’s painted houses,…
Owning a home is a keystone of wealth… both financial affluence and emotional security.