article thumbnail

Adjustable-Rate Mortgages Are on the Rise Once Again—Here’s What That Means for Today’s Homebuyers

Pro Builder

Adjustable-rate mortgages (ARMs) played a significant role in the Great Recession of 2008, which is why a rising share of adjustable-rate mortgage applications in 2022 raised some eyebrows amid talks of a housing downturn. Lending practices have been reformed after hard lessons learned in 2008. Financing.

Finance 98
article thumbnail

Rising Mortgage Rates Sink Homebuyer Demand

Pro Builder

As prospective homebuyers struggle to keep up with rising housing costs, many are now turning to risker adjustable-rate mortgages (ARMs) to secure lower rates. of total mortgage applications, the highest share posted since March 2008. The ARM share last week rose to 12.8% Market Data + Trends. Market Data + Trends.

Housing 52
professionals

Sign Up for our Newsletter

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

article thumbnail

The Pros and Cons of an Engineering Degree In Today’s Environment

Construction Marketing

The only other industries where professionals feel more confident about their employment prospects are in finance, wholesale, and hospitality. More worryingly, this job security may be based on false hope entirely: increasingly, engineering jobs are going offshore or being filled by cheaper temporary labor from abroad.

article thumbnail

Essar Steel of India Secures Funding To Complete Minnesota Iron Ore Plant

ENR Construction

Tangled financing stopped work at the processing plant, touted as a boon to the depressed Mesabi Range when worked started in 2008. Infrastructure'

article thumbnail

PACE in Maryland is Not Keeping Pace

Green Building Law Update

In 2008 I said Property Assessed Clean Energy (PACE) loans “ could be bigger than anything in U.S. real estate since the invention of the glass window.”. But today, despite Maryland having enacted a PACE enabling law in 2014, only one PACE loan has closed in the State. By any measure, one is not an overwhelming success. So, what is wrong?

Maryland 136
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. So it’s no surprise that whenever I talk to companies about how they store their data, the number one concern I hear is in regards to security. According to Eric, most of his clients have “far humbler” security checkpoints than what a data center can offer. Today’s Cloud Security. INSURANCE |.

Security 120
article thumbnail

Construction Business Owner Blogs

Construction Business Owner

Accounting & Finance. I would like to share the following tips to use before approaching the bank(s) or other financial institutions for additional financing, and some non-bank financing options. There are also some approved finance companies, such as GECC, that will finance heavy equipment purchases. October 2008.

Banking 120