Oregon’s Willamette Valley Bank to Cease Residential Mortgage Lending

by Phil Hall | Feb 26, 2026 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

Salem, Oregon-headquartered Willamette Valley Bank announced it will discontinue it residential mortgage lending business effective March 31. “The residential mortgage industry has undergone significant changes in recent years, including the growth of online and...

Papa Johns to Close 300 Restaurants

by Phil Hall | Feb 26, 2026 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

The pizza chain Papa John (NASDAQ: PZZA) announced plans to close 300 US eateries by the end of 2027. Restaurant Dive reports the company, which is the fourth largest US pizza chain by sales, plans to shutter most of the targeted eateries this year. The locations...

30-Year Fixed-Rate Mortgage Drops Below 6% for the First Time Since 2022

by Phil Hall | Feb 26, 2026 | Current News & Events, Mortgage Information, Real Estate News, U.S. Housing Market, WRE News Exclusive

The 30-year fixed-rate mortgage averaged 5.98% in today’s Primary Mortgage Market Survey published by Freddie Mac (OTCQB: FMCC). This is down from last week when it averaged 6.01%. A year ago at this time, it averaged 6.76%. “For the first time in three and a half...

St. Louis Contractor Sentenced to 3 Years for Pandemic Loan Fraud

by Phil Hall | Feb 26, 2026 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

A St. Louis-area contractor who fraudulently obtained $1.7 million in pandemic loans was sentenced to three years in prison and ordered to repay the money. Coretta “Cory” Elliott owned and operated CMT LLC, a contractor that provided commercial construction,...

Illinois Gov. Pritzker: Indiana Faces ‘Massive Increases in Taxes’ with Proposed Bears Stadium

by Phil Hall | Feb 26, 2026 | Commercial Real Estate News, Current News & Events, Real Estate News, WRE News Exclusive

Illinois Gov. JB Pritzker sought to belittle efforts by Indiana lawmakers to lure the Chicago Bears to their state, accusing the state of dumping a new wave of taxes on residents without seeking their approval. TheIllinoize.com reports Pritzker highlighted reports...