Chicago Boosts Hotel Tax, Making it the Nation’s Highest

by Phil Hall | Mar 20, 2026 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

Chicago is now home to the nation’s highest hotel tax after the City Council unanimously voted on Wednesday to create a Tourism Improvement District and raise the tax on hotel rooms within that district to 19%. According to the Chicago Sun-Times, the current combined...

Maine Home Values Increased in February While Sales Declined

by Phil Hall | Mar 20, 2026 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

Fewer homes were sold in Maine during February while home prices continued to rise. According to data from the Maine Association of Realtors, 691 homes were sold statewide last month, an 8.84% decrease. Amid the decline in sales activity, home prices surged by 3.47%...

30-Year Fixed-Rate Mortgage Surges to 6.22%

by Phil Hall | Mar 19, 2026 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage rates surged in the latest Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). The 30-year fixed-rate mortgage averaged 6.22% as of March 19, up from last week when it averaged 6.11%. A year ago at this time, it averaged 6.67%. The 15-year...

Kentucky Home Sales Up in February Despite Drop in New Listings

by Phil Hall | Mar 19, 2026 | Current News & Events, Real Estate News, U.S. Housing Market, WRE News Exclusive

A total number of 2,938 listings in Kentucky were sold during February, up 8.85% from the prior month and up 3.7% year-over-year. According to data from Kentucky Realtors, there were 4,474 new listings last month, down 11.08% from January and down 1.7% from February...

February New Home Purchase Mortgage Applications Up by 0.9%

by Phil Hall | Mar 19, 2026 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Mortgage applications for new home purchases increased 0.9% year-over-year in February, according to data from the Mortgage Bankers Association (MBA). Compared to January, applications decreased by 1%. The MBA estimated new single-family home sales were running at a...