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Residential Property Mortgage Origination Report, which found that total originations fell 24% from the third quarter — the seventh consecutive quarterly decline — and 55% from a year earlier, the largest annual decline since at least 2001. The average contract interest rate for 30-year fixed-rate mortgages backed by the FHA increased to 6.56
Government planners in our four-county region have until the end of this year to revise and then implement by mid-2025 their Comprehensive Plans for growth management to provide adequate space for housing, transportation and services (among many other aspects) to all its residents for the next 20 years. Prices rose, too, to near-record highs.
Investment in affordable housing near inexpensive public transportation is a key mechanism to reduce the cost of living, and housing investments can help mitigate climate change when coordinated with transit options. could potentially generate thousands of homes in areas already served by public transportation.
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