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Average US rate on a 30-year mortgage eases to 6.81%, hovering near highest level in over two months
The average rate on a 30-year mortgage in the U.S. eased this week, though it remains close to its highest level in more than two months. The rate fell to 6.81% from 6.83% last week, mortgage buyer Freddie Mac said Thursday.
March home sales slowed in a lethargic opening to the spring buying season
Sales of previously occupied U.S. homes slowed in March, a sluggish start to the spring homebuying season as elevated mortgage rates and rising prices discouraged many prospective home shoppers.
Pembroke Square hotel set to open in 2027, two years late
The seven-story Tempo by Hilton hotel being planned for Virginia Beach‘s Pembroke Square development is expected to open in 2027 — about two years later than originally announced. Developers on Tuesday revealed the new construction timeline of the hotel, along with several other updates on the $200 million redevelopment of the former Pembroke Mall, including […]
Savills announces new D.C.-region leaders
Amy Kaufman Brendler and Jon Glass have been appointed executive vice presidents and co-leads of commercial real estate brokerage Savills’ Washington, D.C., region, which includes the McLean office, the company announced Monday. Tom Fulcher, who was named mid-Atlantic region lead for Savills in 2021, will be stepping back from his regional leadership role, according to […]
Average US rate on a 30-year mortgage climbs to 6.83%, highest level since late February
The average rate on a 30-year mortgage in the U.S. climbed to its highest level in eight weeks, a setback for home shoppers in the midst of the spring homebuying season. The rate rose to 6.83% from 6.62% last week, mortgage buyer Freddie Mac said Thursday. A year ago, the rate averaged 7.1%. Borrowing costs […]
Dewberry selects new CHRO
Dewberry — an engineering, architecture and construction firm in Fairfax County — announced Monday it has promoted Stacey McKavish to chief human resources officer. In the role, McKavish will oversee all HR functions of the organization and a team of nearly 30 benefits, compensation, human resources, recruiting and training specialists. “Stacey is a charismatic leader […]
CoStar shakes up board of directors
Arlington County-based real estate data and analytics company CoStar Group is making major changes to its board of directors and launching a committee to scrutinize its finances as part of an agreement it entered with New York hedge funds D. E. Shaw group and Third Point. As part of the terms of the agreement, which […]
Fitness center, library planned for former Military Circle Mall in Norfolk
Norfolk Mayor Kenny Alexander last week updated his city on plans to redevelop MacArthur Center mall and the former Military Circle Mall site. During his State of the City address on Friday, Alexander announced that Norfolk is planning a “state-of-the-art” fitness and wellness center and library for the east side of the city at the […]
Danville-Pittsylvania authority invests in history
Using a $1.89 million loan from the Virginia Small Business Financing Authority, Danville and Pittsylvania County officials plan to purchase about 289 acres adjacent to the Southern Virginia Megasite at Berry Hill. Members of the Danville-Pittsylvania Regional Industrial Facility Authority (RIFA) unanimously agreed in January to move forward with purchasing the land at 5981 Berry […]
A second act for Roanoke’s Walker Machine and Foundry
Standing within hollering distance of the Roanoke River, Gregory Kaknes points toward an empty, 10,000-square-foot building. “That’s the bar and grill,” he says. He turns the other direction and motions toward a large expanse of land covered in concrete. “The apartments are over there. … There’s where we’ll have outdoor music, pickleball courts, beach volleyball.” [&hel[...]
Top Five April 2025
1 | Booz Allen fires subcontractor who wrote document about DOGE access to Treasury McLean-based Fortune 500 management consulting contractor Booz Allen Hamilton fired a subcontractor who warned the U.S. Treasury Department about the Department of Government Efficiency having access to the Treasury’s payment system. (Feb. 11) 2 | U.Va. board votes to continue gender-affirming […]
Former Alexandria laser tag arena sells for $6M
The owners of an Alexandria Goddard School, an early childhood learning franchise, plan to open a second location in the city in a 20,000-square-foot building that started out as a roller-skating rink and was later home to a laser tag arena. The private preschool will take up 75% of the building at 5508 Franconia Road […]
