Michigan Real Estate News Headlines – April 5, 2021

Mortgages

Mortgage rate increase hits lenders as refinancing surge fizzles

Mortgage Firms Warned to Prepare for a ‘Tidal Wave’ of Distress

Need a Mortgage Loan? Good Luck. Lenders Are Tightening Standards.

Evictions

Some landlords sell properties as CDC extends eviction ban

Landlords fear some tenants using eviction moratorium as free pass on rent

National

Home prices see highest gain in nearly 15 years

A hint of what’s to come for dying malls: Phoenix mall owner sells out as property is rezoned for other uses

West Michigan

552-unit apartment complex planned at Walker golf course property

Detroit

Former Lear building in Capitol Park sold to H.W. Kaufman Group affiliate for new Detroit office

Grand Rapids

30-unit apartment development near Medical Mile approved over neighborhood concerns

Southeast Michigan

DTE Energy pulls out of downtown Ann Arbor, leaving big void to fill on Main Street

Village of Rochester Hills welcomes new retailers including Robert Redford’s Sundance, Busted Bra Shop

Developer building luxury shipping container homes in Ypsilanti Township

Outstate

Buyers flock to Bay City, Michigan for ultra-low home prices