House Prices Decline, But Equity Buffers Remain Robust

House Prices Decline, But Equity Buffers Remain Robust House prices have already begun to adjust to the reality of higher mortgage rates in many markets, which will help bring more balance to the housing market heading into 2023. Read More First American https://blog.firstam.com/economics/house-prices-decline-but-equity-buffers-remain-robust

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11/29/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY   November Federal Reserve minutes show willingness to slow pace of rate increases A number of (Federal Reserve Open Market Committee) participants observed that, as monetary policy approached a stance that was sufficiently restrictive to achieve the Committee’s goals, it would become appropriate to slow the pace of increase in the target range for the federal funds rate. In addition, a substantial majority of participants judged that a slowing in the pace of increase would likely soon be appropriate. https://www.federalreserve.gov/monetarypolicy/fomcminutes20221102.htm   Consumer sentiment slips…

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Natural Influences

Natural Influences Lighter colors and earth tone finishes are on the rise, and are often combined with metal accents and black painted cabinets for a distinctive style. Read More Kitchen and Bath Design News https://www.kitchenbathdesign.com/natural-influences/

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Berkeley Square in Hamilton to Add Homes Through $11M Expansion

Berkeley Square in Hamilton to Add Homes Through $11M Expansion The expansion project off N.W. Washington Boulevard will include 10 one-story duplex patio homes that will create 20 dwellings. Read More Journal-News https://www.journal-news.com/news/berkeley-square-in-hamilton-to-add-homes-through-11m-expansion/XO5DIZUSTJASVJ67FENYIVSIMM/

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Affordable Senior, Veteran Housing Project Being Developed in Murray

Affordable Senior, Veteran Housing Project Being Developed in Murray The four-story building will house 40 one-bedroom apartments for seniors aged 62 and up; units are reserved for those earning up to 50% of the area median income and they will prioritize military veterans. Read More KSL https://www.ksl.com/article/50524344/affordable-senior-veteran-housing-project-being-developed-in-murray

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Morty Offering FHA Loans Amid Challenging Market

Morty Offering FHA Loans Amid Challenging Market The new product offering provides customers with access to more flexible down payment and credit score requirements. The move comes at a time when FHA loans have increased in volume by… Read More Mortgage Professional America https://www.mpamag.com/us/news/general/morty-offering-fha-loans-amid-challenging-market/428257

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Mortgage Rates Drop Below 7%

Mortgage Rates Drop Below 7% The average 30-year mortgage rate decreased last week after having reached a record high, which could signal that inflation has hit its peak. Read More Fox Business https://www.foxbusiness.com/personal-finance/mortgage-rates-drop-inflation-freddie-mac

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11/25/2022 – MetroIntelligence Economic Update by P. DUFFY

MetroIntelligence Economic Update by P. DUFFY   New home sales unexpectedly rise 7.5 percent in October Sales of new single‐family houses in October 2022 were at a seasonally adjusted annual rate of 632,000. This is 7.5 percent above the revised September rate of 588,000, but is 5.8 percent below the October 2021 estimate of 671,000. Sales rose the most in the Northeast (45.7 percent) and the South (16.0 percent), but fell sharply in the Midwest (-34.2 percent) and slipped in the West (-0.8 percent). Both the average and median sales…

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