Singer Island Erosion Control Project

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The numerical modeling has been completed to determine the anticipated shoreline response to the modified project design (figure). As requested by the permitting agencies, the design modification will help expedite the permitting process by eliminating impacts to the exposed hardbottom in the southern end of the project area. The results of the numerical modeling and hardbottom characterization report have been …

30-Year Mortgage Rates Reach 7-Month Low

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Freddie Mac reports a decline in the 30-year fixed mortgage rate to 5.78 percent during the week ended Sept. 18 from 5.93 percent the prior week, marking the lowest level in seven months. During the same period, the 15-year mortgage rate dropped to 5.35 percent from 5.54 percent. Meanwhile, interest on five-year adjustable mortgages slipped to 5.67 percent from 5.87 …

Federal Reserve Holds Key Rate Steady

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In the wake of economic crisis, the Federal Reserve voted yesterday to keep the federal funds target rate at 2 percent, where it has been since April. This rate influences mortgage rates, which have been sliding since the bailout of Fannie Mae and Freddie Mac.“Tight credit conditions, the ongoing housing contraction, and some slowing in export growth are likely to …

Autumn is a great time to buy

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This fall could be a particularly great time for first-time buyers or those who have been out of the market for at least three years to jump in. Here are the reasons why: • Property prices are probably as low as they are going to go as the market stabilizes, thanks to the government takeover of Freddie Mac and Fannie …