The past few years have seen some of the costliest hurricanes in recent history. In 2021, Hurricane Ida alone caused approximately $75 billion in damages, affecting commercial properties such as offices and apartment complexes. Hurricane seasons are becoming more active every year for various reasons, including a warmer climate. From 1991 to 2020, the tropical Atlantic averaged approximately 14 named storms, seven hurricanes, and three major hurricanes per year. In 2020, a record 30 named storms occurred. The following year saw 21 tropical storms, and in 2023, 20 storms.The same weather conditions that recently intensified hurricane season are converging again.…
Author: Private Lending Agent
Lumber Market News Mortgage Applications Decline – Week Ending June 28, 2024 End Use Posted on July 7, 2024 According to data from the Mortgage Bankers Association's (MBA) Weekly Mortgage Applications Survey (WMAS), the market composite index, which measures mortgage application volumes for the week ending Friday, June 28, 2024, decreased 2.6% from the previous week on a seasonally adjusted basis. On an unadjusted basis, the index increased 8.0% from the previous week. The refinance index fell 2.0% from the previous week but was up 29.0% compared to the same week a year ago. The seasonally adjusted purchasing index decreased…
Lumber Market News 30-Year and 15-Year Fixed Mortgage Rates Increase – Week Ending July 3, 2024 Posted on July 7, 2024 Freddie Mac has released its Primary Mortgage Market Survey® (PMMS) for the week ending Wednesday, July 3, 2024. This week's results include an adjustment for the Fourth of July commemoration. PMMS reports that the average interest rate for a 30-year fixed-rate mortgage is now 6.95%, up from 6.86% last week. During the same period a year ago, the average interest rate for a 30-year fixed-rate mortgage was 6.81%. The average 15-year fixed mortgage rate was 6.25%, up from an…
Thanks to several interest rate hikes by the Federal Reserve, current savings account interest rates are at their highest in a decade. That said, savings account interest rates vary widely from bank to bank, so when shopping for a savings account, it's important to make sure you're getting the best rate possible. Below is a breakdown of current savings account interest rates and where to find the best offers.Summary of today's savings ratesAccording to the FDIC, the national average savings account interest rate is 0.45%. While that may not seem like much, it's a steep increase in a short amount…
The Indian commercial real estate industry is witnessing a changing trend with the rise of green buildings. These eco-friendly structures prioritise resource efficiency and minimising carbon footprint, making them attractive for businesses and the environment alike.Traditionally, real estate has been focused on functionality. Today, leading developers are adopting sustainable practices and integrating cutting-edge technology like smart building systems and environmentally friendly building materials. This shift toward green buildings not only benefits the planet, but it also creates a healthier work environment for employees.Imagine working in an office with features like energy-efficient lighting that uses 30% less power, recycled materials that…
(NerdWallet) – Federal student loan interest rates for the 2024-25 school year have been announced, and some are hitting record high rates, raising the cost of college for those who borrow student loans next school year. Here's a comparison of current 2024-25 federal student loan interest rates to 2023-24 rates. Direct subsidized and unsubsidized loans for undergraduate students: interest rates will increase from 5.50% to 6.53% for 2024-25. Direct unsubsidized loans for graduate students: interest rates will increase from 7.05% to 8.08% for 2024-25. PLUS loans, which parents and graduate students can use to cover financial shortfalls: interest rates will…
(NerdWallet) – Federal student loan interest rates for the 2024-25 school year have been announced, and some are hitting record high rates, raising the cost of college for those who borrow student loans next school year. Here's how current 2024-25 federal student loan interest rates compare to 2023-24 rates. Direct subsidized and unsubsidized loans for undergraduate students: interest rates will increase from 5.50% to 6.53% for 2024-25. Direct unsubsidized loans for graduate students: interest rates will increase from 7.05% to 8.08% for 2024-25. PLUS loans, which parents and graduate students can use to cover financial shortfalls: interest rates will increase…
(NerdWallet) – Federal student loan interest rates for the 2024-25 school year have been announced, and some are hitting record high rates, raising the cost of college for those who borrow student loans next school year. Here's a comparison of current 2024-25 federal student loan interest rates to 2023-24 rates. Direct subsidized and unsubsidized loans for undergraduate students: interest rates will increase from 5.50% to 6.53% for 2024-25. Direct unsubsidized loans for graduate students: interest rates will increase from 7.05% to 8.08% for 2024-25. PLUS loans, which parents and graduate students can use to cover financial shortfalls: interest rates will…
(NerdWallet) – Federal student loan interest rates for the 2024-25 school year have been announced, and some are hitting record high rates, raising the cost of college for those who borrow student loans next school year. Here's a comparison of current 2024-25 federal student loan interest rates to 2023-24 rates. Direct subsidized and unsubsidized loans for undergraduate students: interest rates will increase from 5.50% to 6.53% for 2024-25. Direct unsubsidized loans for graduate students: interest rates will increase from 7.05% to 8.08% for 2024-25. PLUS loans, which parents and graduate students can use to cover financial shortfalls: interest rates will…
(NerdWallet) – Federal student loan interest rates for the 2024-25 school year have been announced, and some are hitting record high rates, raising the cost of college for those who borrow student loans next school year. Here's a comparison of current 2024-25 federal student loan interest rates to 2023-24 rates. Direct subsidized and unsubsidized loans for undergraduate students: interest rates will increase from 5.50% to 6.53% for 2024-25. Direct unsubsidized loans for graduate students: interest rates will increase from 7.05% to 8.08% for 2024-25. PLUS loans, which parents and graduate students can use to cover financial shortfalls: interest rates will…