An adorable gingerbread cottage in Oak Bluffs, MA, is now available for $875,0000.
Known as The Pink House, for its bubblegum-hued exterior, the aesthetically unique residence is one of 312 Victorian cottages on Martha’s Vineyard. The brightly colored cottage was built in 1870 and comes with a storied history.
It’s part of what’s known as The Campground, a collection of homes originally created as a summer retreat with campsites for the Methodist Church. Over the years, the camping tents were removed and cottages were constructed around The Tabernacle. Listed on the National Register of Historic Places, The Tabernacle now hosts religious services and year-round cultural events.
“Everyone who lives there loves it,” says listing agent Kyle Neyer, ofTea Lane Associates. “The home is located in the most iconic fairytale campground, and I think its pink color really sets it apart. It’s been painted various colors of pink since after the Depression.”
The home’s distinctly pink exterior and Gothic front door give way to a cozy, 697-square-foot interior that drips with charm.
From the lacy wood details to exposed-beam ceilings, the home’s history echoes throughout the all-white space.
“Most of the cottages are truly summer cottages, but this one is a year-round home,” Neyer says. “I would describe this home as a fairytale mixed with modern amenities.”
The home is bound by a ground lease, so a buyer rents the land from the Martha’s Vineyard Camp Meeting Association. The buyer will own the home but not the land beneath it.
“An association fee includes trash and snow removal as well as maintenance of the communal gardens,” Neyer explains. “There are some rental restrictions. You can only rent it out six weeks in the summer, from June to September. It’s a real thriving summer colony, and they want it to stay owner occupied.”
The main floor features a bright and open floor plan, including a living room with preserved-hardwood floors and an oversized picture window that overlooks the pink deck.
Just past the living room is an adorable dining area with a second Gothic door for outside access.
The nearby galley kitchen has arched ceilings, a Gothic window, and a few pink countertop appliances to offer flourishes of color and contrast to the all-white interior.
Two spacious bedrooms with sloped ceilings are found upstairs. The primary bedroom has a dormer window and another Gothic door that opens to a private terrace.
A guest bedroom features a stained-glass window with balcony access.
And a brick patio and garden out back make for the ideal spot to host summer barbecues.
Located just blocks from Oak Bluffs Harbor and Nantucket Sound, the property is a delightful retreat for anyone in the mood to embrace year-round vacation living.
“It’s pretty much turnkey and is being offered fully furnished, but it doesn’t have a TV,” Neyer notes. “There is so much going on there in the summer, from religious functions to music and art festivals. The history of the home is just so amazing. It’s a very special, magical place.”
Six months ago, Los Angeles County leaders signed off on an unprecedented transaction: They would return two parcels of beachfront property in Manhattan Beach to the Bruce family, the first example of the government giving back land to a Black family after acknowledging it had been stolen.
On Tuesday, the county announced a surprise twist in the historic deal: The family would sell the Bruce’s Beach property back to the county for nearly $20 million.
In the early 1900s, Willa and Charles Bruce were pushed out of a bustling resort they had built, beloved by the area’s Black community. The Ku Klux Klan, along with other white residents of the area, plotted to drive the family away and city officials later condemned their property in 1924 through eminent domain, claiming they needed the lots for a park. The family’s resort was demolished, and the Bruce family moved away. The park would not be built for decades.
In an effort to “right the wrongs of the past,” the board made the momentous decision in June to return the Manhattan Beach land to the descendants of the Bruces, a move celebrated nationally by reparation advocates.
As part of the agreement, Bruce family members had a two-year window in which they could require the county to buy back the property from them. They have decided to do just that.
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Attorney George Fatheree, who represents the family, said in an interview the sale was not unexpected and the family had always wanted to have the option to sell the property back to the county. He emphasized the sale was still a victory for the Bruce descendants, who would no longer have the land their grandparents were robbed of but instead the money they should have inherited.
For the record:
11:39 a.m. Jan. 8, 2023An earlier version of this story incorrectly quoted a remark from attorney George Fatheree. He said, “What the property represented was the ability to create and preserve and grow and pass down generational wealth,” not “the ability to create and preserve and group.”
“What was stolen from the family was the property, but what the property represented was the ability to create and preserve and grow and pass down generational wealth. And by allowing the family now to have certainty in selling this property to the county, taking the proceeds of that sale, and investing it in their own futures — that’s restoring some of what the family lost,” Fatheree said. “I think we all need to respect the family’s decision to know what’s in its best interest.”
Fatheree said multiple factors contributed to the family’s decision. For one, he said, none of the descendants live in Southern California, and they were in stages of their life where they wanted money to invest.
He also said the land was not zoned for development, and the family members were wary of the years-long permitting fight they would need to wage if they wanted to start building.
“At the end of the day, what the family was very focused on was certainty and being able to access the proceeds of the sale,” he said.
County Board of Supervisors Chair Janice Hahn, who helped initiate the transfer, similarly characterized the sale not as an abrupt change, but as an example of reparations at work.
“They feel what is best for them is selling this property back to the county for nearly $20 million and finally rebuilding the generational wealth they were denied for nearly a century,” Hahn said in a statement. “This is what reparations look like and it is a model that I hope governments across the country will follow.”
The transfer of the property last year was hailed by some as a potential turning point in a nation with a long history of confiscating land from racial minorities, blocking them from the generational wealth that white residents enjoyed. Gov. Gavin Newsom, who signed Senate Bill 796 into law allowing the county to make the transfer, called the deal “catalytic.”
State Sen. Steven Bradford (D-Gardena), who authored SB 796, said he supported the Bruces’ decision, framing the sale as the logical move given zoning requirements he said barred the family from fully developing the property. Currently, he said, it’s zoned only for public use.
“It’s bittersweet. I’m excited about the fact that the family can reap some monetary benefit from property that should have been in their family for 100 years had it not been stolen, but it’s disappointing that the family came to the conclusion of having to sell the property because they saw no long-term financial benefit,” he said. “I think they just saw the writing on the wall and said, ‘Hey, we might as well sell it right now while the market’s good.’”
Though surprising to some who cheered the Bruce’s Beach transfer as a rare reparations success story, a sale back to the county has always been an option. The transfer agreement the two parties hashed out last summer contained a two-year window in which the family could require the county to buy the land back for the value of the property — roughly $20 million. The county said in a statement the buyout option was put in the agreement at the family’s request.
A county team that worked alongside an attorney for the Bruce family conducted an economic analysis to determine the property’s value.
The county maintains a lifeguard training facility on the property. Since the property was transferred last summer, the county had been leasing it from the Bruces for $413,000 a year.
The parties have until the end of January to close the sale, according to Fatheree.
Mortgage rates continued to rise this week. According to Freddie Mac, the average rate on a 30-year fixed mortgage jumped to 6.79% from 6.39% in the first week of May. With rates closer to the 7% benchmark, nearly 5.5 million households continue to be priced out of the market compared to a year ago. Although there are fewer buyers, more than one-third of properties are sold above their list price due to limited inventory, especially of homes that first-time buyers can afford to buy.
However, a couple of government factors will likely help mortgage rates to come down in the following weeks. First, there is positive progress with the debt ceiling deal to prevent our country from a historic default. In the meantime, the Federal Reserve may pause its interest rate hikes later this month. Although these two factors do not directly affect mortgage rates, they affect the economy and eventually mortgage rates.
Home buyers looking for mortgage rates to stabilize or even drop got good news Wednesday, as the Federal Reserve announced a pause in its monthslong campaign of interest rate hikes.
The Fed controls the federal funds rate, a metric that directly affects short-term lending. But holding that key rate steady should filter through to other interest rates, including longer-term ones like mortgage rates. After a turbulent spring, with mortgage rates pingponging up and down as economic crises came and went, the central bankers’ pause could provide a bit of relief.
Why the Fed took a break
After determining rising inflation wasn’t just a temporary feature of the post-COVID-19 economy, the Fed began raising the federal funds rate in March 2022. The rate of inflation peaked at 9.1% in June 2022, the highest level in decades and substantially above the central bankers’ goal of 2%.
Changing the federal funds rate — the interest rate banks charge each other for overnight borrowing — is the Fed’s main tool for attempting to control inflation. Making this type of borrowing more costly makes borrowing more expensive across the board, which should slow down overall spending and price increases. But there’s a lag between the action and its desired effects.
David Bieri, an economist and associate professor at the Virginia Tech School of Public and International Affairs, compares raising the funds rate to using the brakes on a car — but with a twist. “The problem with hitting that brake is imagine you’re driving a car and you will only find with a certain amount of delay whether the brakes are actually gripping,” he explains.
The Fed has been pumping the brakes for months, but it has been hard to tell how much the car’s slowing down. Though the consumer price index, which measures the rate of inflation, has decreased to 4%, other economic data has been mixed. This pause buys the Fed a bit more time to evaluate the road ahead before making its next move.
Implications for mortgage rates
In addition to the Fed’s moves, persistent inflation and economic events like several bank failures and lengthy debt ceiling negotiations have contributed to a tumultuous spring for mortgage rates. Though interest rates on 30-year fixed-rate home loans have remained mostly in the 6% range, there has been considerable day-to-day volatility.
“There are too many other factors that are providing negative influence on mortgage rates at the moment that they don’t need anyone else’s help,” says Melissa Cohn, a regional vice president and mortgage banker at William Raveis Mortgage based in New York City.
In the near term, mortgage rates could pause alongside the Fed, or even drop slightly, given the lack of immediate upward pressure. The longer-term outlook depends considerably on how long the central bankers’ pause lasts. It could be as short as six weeks — more of a skip than a pause — if they choose to hike again at the July meeting. On the other hand, the bankers could decide they’d like to hold interest rates at this level for a while. A quick skip could mean a rate rebound; a longer pause might see mortgage rates fall.
One outcome not to expect is a rate cut. Fed officials have indicated a cut is not on the horizon, much as markets might like to see one.
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What home buyers should know
For home buyers and many homeowners, “the real concern is when are these bloody mortgage rates going to come down,” Bieri says. “Because everybody thought that by now things would ease off, but they haven’t.”
But an overly strong focus on interest rates can distract a potential home buyer from their true goal.
“Buying a home is a long-term investment,” says Nadia Evangelou, senior economist and director of real estate research for the National Association of Realtors. Even if you aren’t buying at your ideal interest rate, so long as you own the home and real estate values appreciate, “you have accumulated wealth.”
And generally, forecasters do anticipate mortgage rates getting lower. It may take a considerable amount of time, and it won’t be to the historic lows seen in 2021, but could it be enough for today’s buyers to refinance down the line? The outlook is good.
A previous version of this article misstated the title for Melissa Cohn. She is a regional vice president and mortgage banker at William Raveis Mortgage. It has been corrected here.
A two-story gem designed in 1921 by renowned architect William Lee Woollett, laden with L.A. art and architecture history, has recently been hit the market in Outpost Estates.
The home was owned for 30 years by Walter C. and Louise Arensberg, renowned collectors and patrons of modern art. The couple were visionaries of their time, passionate about the avant-garde movement and constantly pushing boundaries in the art world.
When they acquired this Mediterranean Revival-style residence in 1927, they saw beyond its mere structure.
To them, it was a colossal canvas waiting to be filled, with its walls, floors, outdoor structures, and L-shaped layout offering endless creative possibilities.
The Los Angeles home that defined modern art
Paintings and sculptures adorned every wall, nook and cranny, and even graced the porch, doors and bathrooms. The property also hosted 4,000 rare books and manuscripts.
Louise died in late 1953 and Walter a few months later. They left their home an absolute treasure trove of art, filled to bursting with nearly 1,000 pieces.
After their passing, the couple’s art found a new home at the Philadelphia Museum of Art, while their impressive book collection was donated to California’s Huntington Library.
But the house will forever be associated with the timeless works of art that once adorned its walls.
The home and the collections it housed were even the subject of a 2020 book, “Hollywood Arensberg,” published by the Getty Museum. Following the book’s release, Architectural Digest ran a feature on the historic property, calling it “The Los Angeles Home That Defined Modern Art”.
Its architectural journey, with additions by Richard Neutra, John Lautner, culminated in an extensive $5 million renovation
The Arensbergs also had a deep love for modern architecture and had commissioned various additions to the home over the years, some of them to accommodate their remarkable collection.
Their roster of architects reads like a who’s who of cutting-edge designers from the era: Henry Palmer Sabin, Richard Neutra, Gregory Ain, John Lautner, and Henry Eggers.
Some of the home’s special features include a movie theater by Gregory Ain, an office by Richard Neutra, and a carport by John Lautner with a turntable for easy entry and exit to the estate.
Earl Stendahl, a close friend and neighbor, acquired 7065 Hillside Avenue and turned it into an extension of his Wilshire Boulevard gallery. Following his death in 1966, his family kept running the gallery for many years but eventually fell hopelessly behind on property maintenance.
Related: Richard Neutra-designed stilt house looms over the San Fernando Valley in Los Angeles
When Heithaus and Browning bought the residence, it had no running water or toilets, and the kitchen had been destroyed by fire. Parts of the second floor were rotting.
The two spent $5 million and five years on renovations, bringing the property back to near-original condition. They restored walls, installed new plumbing and electrical systems, and added a stunning fountain and white concrete table with seating for 12 to the front garden, greatly enhancing its charm.
The Arensberg house is now on the market for $8.5 million
Now, Browning and Heithaus are ready to sell. While their profit may not be enormous given the $5 million investment, they take pride in having restored a cultural landmark (as designated by the City of Los Angeles) back to its former glory.
Acquired for $2.34 million in 2017 by owners Marco Heithaus and Jonathan Browning, it’s now proudly presented by The Agency’s James Harris and David Parnes.
The two-story residential building offers 4 bedrooms and 6 baths across 5,612 square feet of living space. The living room, dining room, and owner’s suite all have large fireplaces.
Outdoor amenities include a saltwater swimming pool with a spa, an outdoor kitchen, jaw-dropping fountains, and a sunken garden with a stone dining table that easily accommodates 12.
The $8.499,000 asking price stands out in Outpost Estates, a community where the Spanish-Revival style dominates. Yet, the home’s pedigree is like no other.
Original masterpieces by Pablo Picasso, Salvador Dalí, Paul Klee, and the ever-scandalous Marcel Duchamp have all adorned the walls, creating irresistible allure. It probably won’t be long before some art- or history-loving buyer answers the call of this remarkable property.
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You don’t have to search all that hard to find the best Italy cruises — most leading cruise lines offer dozens of itineraries that visit Italian ports, often in conjunction with neighboring countries France, Greece and Croatia.
The reason? Italy has it all: coastlines on both the Mediterranean and the Adriatic, historic port cities (Rome, Venice and Naples among them) and spectacular islands (including Sicily, Sardinia, Capri and Elba).
For more cruise guides, news and tips, sign up for TPG’s cruise newsletter.
Plus, with a cruise season that runs from early April through late October (and even year-round for a few cruise lines), Italy offers something for everyone. Travel here to find an alluring mix of impeccably preserved historic sites, renowned regional cuisines and natural wonders waiting to be discovered.
Here are eight of the best Italy cruises for every type of traveler.
Best Italy cruises for cultural immersion: Azamara
Azamara pioneered the concept of single-country itineraries, which allow for greater cultural immersion and even overnight stays in select ports. The cruise line’s 11-night voyage in October 2024 is one of its most comprehensive.
The sailing begins in Monte Carlo, Monaco, and ends in Rome (Civitavecchia), with visits to seven more Italian ports and Tunis, Tunisia. You’ll explore Genoa, Livorno (overnight for Florence/Pisa), Porto Santo Stefano (on the Tuscan coast), Cagliari (on Sardinia), Trapani (on Sicily), Amalfi and Sorrento.
This voyage is aboard the 684-passenger Azamara Onward, one of the cruise line’s four virtually identical ships. (All are former Renaissance R-class ships built in the early 2000s and renovated over the past several years.) The vessels’ intimate size and Azamara’s focus on cultural experiences and shore excursions emphasizing history and food (including cooking classes and market tours) make for an immersive cruise itinerary.
Other Italy-Intensive voyages in 2023 and 2024 include the following: a 10-night voyage in October 2023 aboard Azamara Quest, a 10-night voyage in April 2024 aboard Azamara Pursuit, and a seven-night voyage in May 2024 aboard Azamara Quest.
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Best Italy cruises for small-ship lovers: Windstar Cruises
It’s rare to find a cruise itinerary so fully focused on one specific region of Italy, but Windstar Cruises’ small ships — three classic sailing yachts and three all-suite motor yachts, which accommodate 148 to 342 guests — allow it to offer cruises to less-frequented ports.
Windstar’s 10-day Sicilian Splendors, aboard its 342-passenger sailing yacht Wind Surf, is available on multiple dates in 2023, 2024 and 2025. The ship will cruise round-trip from Rome and call on six Italian ports: Catania (for Mount Etna), Porto Empedocle (for the ancient ruins at Agrigento) and Trapani (for its signature colored salts and Marsala wines), all in Sicily; the island of Lipari (the largest of seven Aeolian Islands); and Sorrento and Amalfi on the stunning Amalfi Coast. The cruise also visits the neighboring islands of Malta and Gozo.
Five-masted Wind Surf is the world’s largest sailing ship. It manages to be intimate without feeling claustrophobic, although it is worth noting that none of its staterooms or suites has a balcony. There is, however, ample deck space for relaxation, with a pool and two hot tubs, as well as inviting alfresco bars and dining areas.
Related: The 2 classes of Windstar ships, explained
Indoors, the ship’s restaurants and social spaces, such as the Veranda Restaurant, Stella Bistro and the Compass Rose Bar, are light-filled, with elegant neutral decor refreshed in 2019.
Musical entertainment takes place in the Wind Surf Lounge and Compass Rose Bar, and Windstar’s excellent dining program reflects an ongoing partnership with the James Beard Foundation. In select tender ports, passengers can enjoy a watersports platform and take out sea kayaks and stand-up paddleboards.
Best Italy cruises for onboard pampering: Ritz-Carlton Yacht Collection
If enjoying yacht-style indulgence as you explore Southern Italy is on your cruise wish list, consider the Ritz-Carlton Yacht Collection’s 10-night Rome to Valletta itinerary in May 2024. This cruise visits scenic hot spots such as Sorrento and Amalfi on the Amalfi Coast, history-rich Siracusa in Sicily and three ports (Gallipoli, Taranto and Otranto) in lesser-known Puglia, located on the heel of boot-shaped Italy, before passengers disembark in Malta.
Ritz-Carlton, which entered the cruise realm in 2021 with its 298-passenger luxury yacht, Evrima, offers an all-inclusive “yachting lifestyle” experience. This leisurely sailing features overnights in Sorrento and Taranto and two sea days with ample ways to enjoy onboard pampering. The ship’s spacious suites are designed with a contemporary residential feel and range in size from 300 square feet with an 81-square-foot terrace to 1,091 square feet with a 635-square-foot terrace.
Evrima also offers nine bars and dining venues featuring menus created to reflect the ports visited. For culinary indulgence, guests can book a table at S.E.A., a specialty dining experience designed by Chef Sven Elverfeld of Aqua, the Michelin three-starred restaurant at The Ritz-Carlton in Wolfsburg, Germany.
The ship also features chicly designed spaces for relaxing and socializing, such as the Pool House lounge overlooking an aft infinity pool, a second pool located next to the alfresco restaurant Mistral, a panoramic Observation Lounge and a full-service Ritz-Carlton Spa.
Related: The best luxury cruise lines for elegance and exclusivity
Best Italy cruises for foodies: Silversea Cruises
The three newest ships in the Silversea Cruises fleet — Silver Moon, Silver Dawn and 2023’s first-in-class Silver Nova — all feature the cruise line’s immersive culinary program known as S.A.L.T. (Sea and Land Taste). When Silversea’s next ship, the 728-passenger Silver Ray, debuts in 2024, it will also take its guests on culinary-focused journeys — among them an 11-day Rome to Venice itinerary in June 2024.
The itinerary includes calls on seven ports in Italy: Rome, Naples, Sorrento, Palermo, Siracusa, Trieste and Venice. The sailing also visits ports in Malta, Montenegro and Croatia.
Silversea’s sailings blend food-centric excursions — such as a visit to a family farm for a tasting of fresh cheese, salami and olive oil in Sorrento — with the onboard S.A.L.T. program to make sampling local cuisine a natural part of the cruise experience. The day-to-day menus at S.A.L.T. Kitchen are all inspired by the ports visited. The Terrain menu focuses on that day’s port while the Voyage menu draws from the best flavors of the entire itinerary.
Passengers aboard Silver Ray should definitely pack an appetite — in addition to S.A.L.T. Kitchen, the ship features seven other restaurants. They are La Dame for haute French cuisine, Atlantide for signature fine dining (think caviar and lobster), Kaiseki for Japanese sushi and teppanyaki (as well as pan-Asian dishes), Silver Note for tapas-style dining and live music, The Grill for casual burgers and salads, La Terrazza for handmade pasta and other Italian specialties, and Spaccanapoli for thin-crusted Naples-style pizza. With 11 nights aboard, there’s time to sample all of them.
Related: The ultimate guide to cruise ship food and dining
Best Italy cruises for families: Norwegian Cruise Line
If an Italy adventure with the entire family sounds like the perfect cruise vacation in 2024, Norwegian Cruise Line’s new Norwegian Viva, launching in August 2023 as the sister ship to 2022’s Norwegian Prima, is an ideal playground for guests of all ages.
The most Italy-focused itinerary? The 10-day Mediterranean: Italy, Greece & Croatia cruise (offered aboard 3,099-guest Viva in late June and late September 2024) calls on six ports in Italy — Rome, Livorno, Naples, Messina, Siracusa and Trieste — as well as the islands of Corfu and Malta; Koper, Slovenia; and Dubrovnik and Split in Croatia.
This itinerary is rich in history and culture, including the ancient landmarks of Rome, the archeological wonders of Pompeii and the Leaning Tower of Pisa near Livorno, plus the beauty and culinary treats (sweet cannoli and savory arancini) of Sicily, where Viva makes two port calls. Though the cruise ends in Trieste, the wonders of Venice are just 90 minutes away, so adding a few extra nights to explore its colorful, canal-laced islands is a must.
Onboard Viva, you’ll enjoy more than a dozen dining options (five of them complimentary, including the casual and family-friendly Indulge Food Hall), 16 bars and lounges and all the fun activities/entertainment (including a production of the Broadway hit “Beetlejuice: The Musical”) that the line offers.
Related: Best cruise lines for families
Top amenities include the three-deck Viva Speedway for exhilarating go-kart racing, three thrilling slides (two of them 10-story corkscrew dry slides and one tidal-wave-style waterslide), virtual-reality gaming in the Galaxy Pavilion, tech-enhanced minigolf and more. Also, Viva’s generous outside deck space — especially Deck 8’s Ocean Boulevard with its lively Indulge Outdoor Lounge and sleek Infinity Beach pools — is ideal for scenic cruising in the Mediterranean and Adriatic.
Best Italy cruises for couples: Oceania Cruises
The sophisticated onboard ambiance and a romantic itinerary are a lovely combination, and couples can enjoy both on the 12-night Mediterranean Tapestry sailing offered in June 2024 aboard Oceania Cruises’ newest vessel, Oceania Vista.
The 1,200-passenger ship, which debuted in May 2023, will visit four top ports in Italy — Venice/Trieste in Northern Italy, Taormina in Sicily, Amalfi/Positano in Southern Italy and Civitavecchia for a day in Rome.
Beyond Italy, this itinerary offers a sampling of scenic locales in six other Adriatic and Mediterranean countries with a possible pre-cruise stay in Venice. You’ll visit Korcula and Split in Croatia; Kotor, Montenegro; Igoumanitsa and Katakolon in Greece; Ajaccio, Corsica; Monte Carlo, Monaco; Marseille, France; and Barcelona, Spain.
Oceania caters to couples seeking an upscale cruise experience with a culinary focus. Onboard Vista, the atmosphere is sleek and polished, with interior decor awash in elegant neutrals of varying patterns and textures, all woven together into a soothing mosaic (in some cases, literally, as tiled vignettes are used throughout the ship). Vista’s bars and lounges, especially the Martini Bar and the Grand Lounge, are so chic you’ll want to get dressed up every night to enjoy one of the craft cocktails on their newly enhanced menus.
All specialty dining is included in the cruise fare, and stand-out meals at Polo Grill (for an excellent steakhouse menu), Toscana (for authentic Italian, including recipes by Vista’s godmother Giada De Laurentiis) and Red Ginger (for flavorful pan-Asian) are just a reservation away. Two new eateries, Aquamar Kitchen and Ember, serve wellness-focused cuisine and casual American comfort food, respectively, and an expanded Culinary Arts Center lets guests who love to cook take hands-on classes.
Best of all, Vista is an all-balcony ship, so every stateroom features access to fresh air (French Veranda Staterooms don’t have an outdoor sitting area, however). Veranda Staterooms and Concierge Level Veranda Staterooms offer a spacious 290 square feet of indoor space — and some of the best standard bathrooms at sea with roomy walk-in showers and ample storage.
Related: The best cruises for couples seeking romance and together time at sea
Best Italy cruises for travelers on a budget: Royal Caribbean
To score a budget cruise fare in the Mediterranean, it helps to look for sailings aboard a cruise line’s older ships. If Italy is your main focus for a future cruise, it’s hard to beat the seven-night Western Mediterranean itinerary in September 2024 aboard Royal Caribbean’s Voyager of the Seas.
It visits five Italian ports: Venice/Ravenna, Messina in Sicily, Naples, Rome and Livorno (for Florence and Pisa). The ship also calls on Marseille and Barcelona. Voyager’s Italy-focused cruise is a jam-packed itinerary with just one sea day.
Ideal for both couples and multi-generational families, the 3,600-passenger Voyager of the Seas (which debuted in 1999 and was last refurbished in 2019) features seven restaurants (including three complimentary dining venues and specialty restaurant favorites Chops Grille and Giovanni’s Table) and eight bars/lounges.
The ship has been “amped-up” so guests can enjoy features found on Royal Caribbean’s newer ships: Perfect Storm waterslides, FlowRider simulated surfing, Battle for Planet Z laser tag, Voyager Dunes minigolf, Studio B ice-skating shows and reimagined spaces for kids and teens.
Nights aboard Voyager of the Seas will be filled with complimentary entertainment options: production shows in the Royal Theater, pub performances by guest entertainers and bands, game-show competitions, pool parties, outdoor movie nights and a ‘70s disco party.
Best Italy cruises for adults-only ambiance: Viking
Is Venice at the top of your wish list? Does an adults-only cruise on a ship with serene, Scandinavian-inspired interior decor and complimentary wine or beer with lunch and dinner sound ideal?
If so, check out Viking’s 15-night Italy, the Adriatic and Greece itinerary, which sails from Athens to Rome and visits six Italian ports — Venice/Chioggia, Bari, Crotone, Messina, Naples and Rome — with three days spent in Venice. As a bonus, you’ll also visit ports in Greece (Katakolon and Corfu), Croatia (Dubrovnik, Split and Sibenik) and Montenegro (Kotor).
Offered on multiple dates in fall 2023, 2024 and 2025, this itinerary is chock full of port experiences; there are no sea days, and a total of 13 cities are visited. Viking includes one free guided shore excursion in each port, usually a panoramic bus tour or historic walking tour. Use that as an overview and then explore on your own or book one of the cruise line’s longer or more specialized excursions. Onboard guest speakers also offer insight into the ports visited and the cultural landscape.
The cruise line’s nine ocean ships are all identical and accommodate 930 passengers, most of whom are couples over age 55. Onboard dining is available in eight restaurants, including the main venue, The Restaurant and the buffet-style World Cafe, the casual Pool Grill and the Norwegian-focused Mamsen’s. Guests can also reserve dinner at two specialty restaurants (at no extra charge): Manfredi’s for Italian cuisine and The Chef’s Table for multi-course, wine-paired menus that rotate throughout the cruise.
Afternoon tea is served in the elegant Wintergarden. The Aquavit Terrace overlooking the aft infinity pool is a sunny spot to enjoy alfresco dining.
If you’re willing to come back early from port, Viking’s ocean ships offer plenty of ways to relax on board. All passengers enjoy complimentary access to the ship’s thermal suite in the LivNordic Spa. It features a thalassotherapy pool, steam room, sauna and snow room. The Main Pool has a retractable roof and can be enjoyed no matter what the weather. However, if you want to live it up at night, note that the ship does not have an onboard casino.
Bottom line
The best Italy cruises offer access to some of the country’s most-loved cities, as well as a chance to explore some of its sunny islands and lesser-known coastal ports. No matter the itinerary, you’re guaranteed to enjoy the splendid landscapes, treasured antiquities and, of course, the incredible gelato.
As analysts scrutinize commercial real estate’s potential to destabilize the banking industry, the sector also faces a slowdown in loan purchases from one of its largest investors — life insurers.
Mortgage loans acquired by the life insurance industry plunged 59.9% to $14.86 billion in the first quarter compared to the same period a year earlier, according to new research published by S&P Global Market Intelligence. The amount was the smallest first-quarter number since 2014, while also dropping to its lowest mark since the COVID-impacted months of mid 2020.
Uninsured commercial mortgages, which typically make up the majority of loans acquired by life insurance companies, saw an even steeper falloff of 63.8% to $9.34 billion from $25.77 billion in the first quarter of 2022. The total share of commercial loans relative to overall quarterly acquisitions came out to 64.8% in dollar volume.
Meanwhile, uninsured residential securities saw their share grow to 29.1% of insurer purchases, marking noticeable diversification since 2020. The split that year between commercial and residential acquisitions was 77.2% to 11%.
“The changing landscape of general account asset managers may be as responsible for that trend as a desire to diversify,” according to Tim Zawacki, principal research analyst at S&P Global Market Intelligence.
The latest data comes as commercial real estate loans show hints of deterioration in recent performance, as federal officials also weigh in about the risk they may hold. Delinquencies in the first three months this year came in higher from the fourth quarter across all investor types, according to the Mortgage Bankers Association. Commercial loans held by life insurance companies 60 days or more past due had a delinquency rate of 0.21% up on both a quarterly and annual basis. But while elevated, they were still well below historic lows.
The office loan market, in particular, is the source of much of the current anxiety, largely fueled by growing numbers of vacancies resulting from resistance toward a return to in-person work. Delinquent office loans hit a five-year high in May, with more than 4% of loans packaged within securities more than 30 days past due, real estate data provider Trepp recently said.
Compared to a year earlier, life insurers have also significantly cut back on their acquisitions of office-property loans, with just $693.53 million worth purchased in the first quarter, representing an 81% annual decrease, S&P Global’s analysis found. The total added up to just a 7.4% share of all mortgages the industry acquired, well off 14.2% a year earlier and 33.5% in the first quarter of 2018.
Making up for some of that dropoff were investments in multifamily and industrial properties, which include distribution centers, data hubs and manufacturing plants. But the industry’s acquisitions in those assets also took a steep dive as well, with multifamily purchase volume falling on an annual basis by 65.8%, and industrial down 58%.
MetLife held the largest mortgage portfolio volume of all insurers with $60.24 billion at the end of the first quarter, well outpacing Northwestern Mutual and New York Life at $51.92 billion and $38.66 billion, respectively. None of the top 10 mortgage holders increased their acquisition numbers on a year-over-year basis, S&P Global said.
Still, while headwinds appear, insurers insist that the credit quality in their mortgage portfolios is strong, as many expressed confidence in recent earnings calls about how they would perform in a downturn thanks to underwriting standards and previous stress-test analysis.
“Life insurers are traditionally viewed as conservative lenders, focusing on commercial mortgages with relatively low loan-to-value ratios and high debt-service coverage ratios,” Zawacki said.
While first-quarter numbers showed some initial signs of stress from changes in mortgage-loan valuation, problems were limited to a few companies. Unrealized valuation decreases of $120.2 million were the highest in absolute terms in at least 15 years, but only two insurers were responsible for most of the loss.
Insurers will feel the effects of current commercial mortgage troubles, but more serious impact may turn out to be isolated, rather than becoming a wider industry crisis, S&P determined.
Maui, known as “The Valley Isle,” is a lush Hawaiian island famous for its whale and turtle sightings, as well as the Haleakalā volcano, which makes up 75% of the island. When it comes to the best things to do in Maui, of course a big part of the allure is just enjoying the fantastic scenery.
But there’s more to do than just gaze at the horizon. There are fantastic beaches and hiking trails to explore; there are cliff divers to watch and craters to climb. Plus it’s a food lover’s paradise.
To help you plan an amazing trip to this natural paradise, read on. You’ll learn the top 10 fun things to do on a Maui vacation, as well as tips to help you travel smarter.
Best Times to Go to Maui
There’s really not a bad time to go to Maui. The weather stays warm, with highs in the 75- to 85-degree range year-round during the day. Summer, especially July and early August, can be very popular, with singles, couples, and families embarking on summer travel. If you prefer to have a less crowded and more lowkey trip, you might prefer to plan your trip for April, May, or mid-August through September.
But if it’s whale-watching you’re after, January is the month to visit, because it’s their migration season.
Here are some annual events you might want to include in your travel plans.
• February: Great Maui Whale Festival
• March: Lahaina Whale and Ocean Arts Festival
• May: Lei Day
• June: Maui Film Festival
• July: Lana’i Pineapple Festival
• October: Hawai’ian Food & Wine Festival
• December: Lighting of the Banyan Tree
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Bad Times to Go to Maui
While there really isn’t a bad time to go to Maui, if you want to lessen the chance of getting rained on while enjoying the top things to do in Maui, avoid the rainy season, which is November to March. That said, Wailea, an area on the southwestern side of the island, has its own microclimate and tends to be drier year-round.
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Average Cost of a Maui Vacation
Hawaii isn’t known for being a budget traveler’s paradise. Because it’s an island, food has to be shipped in, which can cause it to cost more. And renting a car can get expensive, depending on the time of year and demand. But how much will your Maui vacation cost?
For a couple, expect to pay about $4,517 for a week in Maui. The actual cost will depend on your accommodations, largely. A hotel room can range from $102 to $467 a night, while a vacation rental could be about $240 to $440 per night. Keep in mind that these price estimates don’t include airfare getting to the island. When you are purchasing your tickets, you might want to use an airline credit card to rack up some bonus miles or other rewards.
You might also take advantage of book now, pay later travel to book flights when you see affordable options instead of waiting until the last minute when prices may spike.
One other expense to consider is travel insurance. Check if your credit card travel insurance will cover you; some card issuers offer this. Otherwise, you might rest easier if you buy a separate policy to protect yourself if something were to go awry.
10 Fun Must-Dos in Maui
Every Hawaiian island has its own unique features and things to do. Maui is an in-demand destination because of all of its incredible attractions. Here, based on travelers’ advice, locals’ picks, and the best-rated sights on the web, are 10 fun things to to when in Maui, Hawaii.
1. Watch the Cliff Divers at Black Rock
This event feels like an insider’s secret, but in reality, lele kawa, or cliff-diving off of Black Rock has been attracting thousands of tourists for 60 years. Hawaiians have been cliff-diving for centuries, and this twice-weekly ceremony, lasting about 10 minutes, continues the tradition.
Stake out a place to view the spectacular event at the Sheraton Maui before sunset. You don’t have to be a guest of the property to attend, though you may choose to enjoy a cocktail at the outdoor bar for prime seating. Otherwise, find a spot along the shore and wait for the torch lighting that signifies the start of this nightly ceremony. marriott.com/en-us/hotels/hnmsi-sheraton-maui-resort-and-spa/experiences/
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2. Go Ziplining
Another top thing to do in Maui: Ziplining, a great way to fulfill your need for speed and see the gorgeous landscape. There are several ziplining companies in Maui, allowing you to glide down lines above the treetops and take in breathtaking views of the island and the sea. One business, North Shore Zipline Company (nszipline.com/), operates on a historic World War II landmark site, and the guides provide interesting tidbits about Maui’s role in the war. Kapalua Ziplines’ Dual Zipline Mountain Adventure (kapaluaziplines.com/) is another option, allowing a pair of zipliners to glide down parallel paths together.
Prices can range from $100 to $200 or more, depending on how many ziplines you do. This attraction could be a good time to use plastic and reap some credit card rewards.
3. Savor a Luau
Some may find it a tad hokey, but a luau experience can be one of the most fun things to do in Maui for couples. These typically involve local delicacies (perhaps including roast pig cooked in the earth) and action-packed, flame-throwing dance performances. If you can go at sunset, you’ll likely have the backdrop of stunning pink and purple skies.
4. Snorkel with Turtles in Honokeana Bay
One of the top 10 things to do in Maui is snorkeling with sea turtles. While there are many places you can see them, sometimes the number of tourists scares them away at the more popular beaches. However, at sleepy Honokeana Bay, you’re more likely to bump into one.
This bay doesn’t have a sandy beach, so wear water shoes; you’ll likely have to climb over some possibly sharp lava rock to get into and out of the water. Bring an underwater camera to get a shot of these graceful creatures, but remember: Don’t touch them!
5. Follow the Road to Hana
If you love gorgeous road trips and don’t mind a few curves on your path, take a day to drive the Road to Hana. This winding road will have you cruising through rainforests, black beaches, sacred burial sites, and past gushing waterfalls. There are apps you can download to guide you to the best places to stop (and note: Cell service may be spotty, so download your map beforehand).
Another way to see this memorable sight: Let one of the local guides do the driving, and be a passenger. Plenty of options are available to tour this way.
6. Take to the Trails
Maui is truly a nature lover’s paradise, and there are hikes for every level of skill. For an easy, ambling hike along the coast, try Kapalua Coastal Trail, especially if you don’t have time to drive to one of the parks for a hike.
If you do have more time, try Waihe’e Ridge Trail, which rises 2,500 feet above sea level and puts you right in the heart of the mountains. You’ll also get to see some of the island’s most beautiful waterfalls.
7. Get Up Close to the Haleakalā Crater
At the heart of Maui is the Haleakalā volcano, which makes up 75% of the island. Visitors love watching the sunrise from the crater, though know that you need a reservation. You can also book a van or bike tour, camp, or explore the park on your own. The park is open 24 hours a day, while the visitor’s center is open 8 am to 3:45 pm There is a $1.50 fee per vehicle for sunrise; this low fee can be one of the ways families can afford to travel. haleakalacrater.com/
8. Cool Off With Shave Ice
No trip to Maui is complete until you’ve had shave ice from Ululani’s (that’s right; shave not shaved ice). Shave ice is a local treat and is just what it sounds like: bits of ice shaved from a block and doused with sweet syrup. It’s similar to a snow cone, though that’s made with crushed ice.
As for Ululani’s, this institution has been creating smiles with its sweet treats since 2008. Try a fun flavor like passionfruit, coconut, guava, mango, or macadamia nut on a hot day. ululanishawaiianshaveice.com/
9. Bask on a Black Sand Beach
Of course you need beach time, so why not head to the black sand beach of Waiʻānapanapa State Park? It’s a great selfie spot. The black color comes from eroded rock mixed with sand.
You can also picnic, swim, and snorkel there. If you’re traveling with a pet, know that the park allows leashed dogs, so it can be a good place to explore together.
To combat the throngs of visitors, the park now requires reservations, and entry is $5 per person plus a $10 parking fee. dlnr.hawaii.gov/dsp/parks/maui/waianapanapa-state-park/
10. Sip Mai Tais at Sunset
Another of the best things to do on a Maui vacation is enjoy Happy Hour. There’s nothing more romantic in Maui than enjoying a Mai Tai as the sun dips below the sea. There are several places you can get a delicious cocktail, including Ka’anapali Beach Hotel and Duke’s Beach House. Some places get crowded at sunset, so it’s often best to make a reservation.
The Takeaway
A trip to Maui can provide the opportunity to see some true natural wonders, relax, hike, and eat amazingly well. With attractions like the Road to Hana and cliff-diving ceremonies, Maui offers diverse attractions that make a stay there amazingly memorable.
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FAQ
What are the best things to do in Maui?
There’s plenty to do in Maui, from snorkeling with turtles to watching cliff divers at Black Rock. Also don’t miss experiencing a luau or the amazing sunsets over the water.
Where should I hike in Maui?
If you drive the Road to Hana, there are many trails along the way where you can view waterfalls. Other noteworthy hikes can be found at Kapalua Coastal Trail, Waihe’e Ridge Trail, and the Haleakalā Crater.
How long should I visit Maui?
With so much to see, not to mention the slow pace of the island, you’ll probably want to allow a minimum of five days in Maui.
Photo credit: iStock/Jacob Boomsma
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Welcome to the world of unusual hotels! If you’re a traveler who’s looking for an unforgettable experience, go no further. From ice hotels in Sweden to an underwater room in Zanzibar, these are some of the most unusual hotels in the world. These hotels are not only unique in terms of their design and decor but also offer a range of activities and amenities to make your stay even more memorable.
1. Ice Hotel, Sweden
The Ice Hotel is an exclusive hotel located in the remote village of Jukkasjärvi, Sweden, which is constructed entirely out of ice and snow. It is reconstructed annually, featuring a wide range of rooms and suites designed by artists and architects from across the world. The hotel provides several activities, including snowmobiling, dog-sledding, ice fishing, and an opportunity to witness the spectacular Northern Lights. The hotel’s Ice Bar serves drinks in glasses made of ice. The Ice Hotel offers guests the opportunity to submerge themselves in a world of ice and snow and experience the remarkable beauty of Sweden’s Arctic landscape.
2. Propeller Island City Lodge, Germany
Propeller Island City Lodge is a hotel situated in Berlin, Germany. Each room is exclusively decorated and themed by musician and artist Lars Stroschen. With over 30 rooms available, guests can experience a range of designs such as the “Mirror Room” with its reflective walls and ceiling, the “Flying Bed Room” with a bed hanging from the ceiling, or the “Padded Cell Room” that resembles a psychiatric ward. The hotel aims to create an immersive and surreal experience that challenges guests’ perceptions of reality. Despite the unconventional decor, the rooms are furnished with all the necessary amenities, including comfortable beds, bathrooms, and heating. The lobby of the hotel is also decorated with oversized sculptures and furniture that are sure to surprise and entertain guests. Along with these unique rooms, the hotel also offers several services such as tours of Berlin, live music events, and a breakfast buffet served in a vintage bus. Propeller Island City Lodge is an exceptional choice for travelers seeking an unconventional and memorable experience.
3. Magic Mountain Lodge, Chile
The Magic Mountain Lodge, located in Huilo Huilo Biological Reserve, Chile, is designed to resemble a volcanic mountain with waterfalls and vegetation. The hotel features 9 uniquely decorated rooms, connected by winding staircases and walkways, with stunning views of the surrounding forest and waterfalls. The hotel offers various outdoor activities, including hiking, mountain biking, kayaking, fishing, and horseback riding. Guests can also visit the nearby Huilo Huilo Falls or Valdivian rainforest. The hotel’s restaurant serves traditional Chilean cuisine, while the bar offers Chilean wines and cocktails. Outdoor hot tubs, situated on the side of the mountain, provide a spectacular view of the surrounding forest and waterfalls.
4. Kakslauttanen Arctic Resort, Finland
Kakslauttanen Arctic Resort in Finnish Lapland offers luxurious accommodations, including glass igloos and log cabins, allowing guests to witness the Northern Lights from their rooms. The resort also provides unique lodging options such as Kelo-Glass igloos and Snow igloos. The hotel offers a sauna, ice bar, and ice sculpture gallery, in addition to traditional Finnish cuisine at the West Village Aurora Restaurant. It is an ideal destination for guests seeking a unique and luxurious escape in the midst of natural beauty.
5. The Manta Resort, Zanzibar
The Manta Resort is a luxurious and secluded retreat situated on Pemba Island, Zanzibar. The resort’s most unique feature is an underwater room located offshore and surrounded by a coral reef, allowing guests to have a truly immersive underwater experience. In addition to the underwater room, the resort also offers private villas and suites with stunning ocean views. Guests can enjoy various activities, including snorkeling, scuba diving, kayaking, and deep-sea fishing, or indulge in treatments at the resort’s luxurious spa. The resort’s main restaurant serves a diverse menu of international and African cuisine made with fresh, locally sourced ingredients. The Manta Resort is an ideal destination for honeymooners, couples, and those seeking a luxurious and secluded retreat surrounded by natural beauty.
6. Null Stern, Switzerland
Null Stern is located in the Swiss Alps, and provides a one-of-a-kind, minimalist experience to its guests. The hotel repurposes former nuclear bunkers and turns them into comfortable and cozy rooms, where guests can enjoy a stripped-down atmosphere with just the essentials, including a queen-sized bed and lighting. The hotel’s main aim is to let guests fully immerse themselves in the natural surroundings by eliminating any unnecessary distractions. The hotel provides additional services such as a personal butler and a unique breakfast service, which is served in a restaurant carved into the mountainside nearby. The hotel is situated in a picturesque location, offering stunning views of the Alps, and nearby hiking trails and other outdoor activities. Overall, Null Stern is a perfect choice for people seeking a unique and minimalist retreat in a beautiful natural setting.
7. Hotel Costa Verde, Costa Rica
Hotel Costa Verde is located in Costa Rica’s rainforest, offering unique accommodations such as a refurbished Boeing 727 airplane converted into a luxury suite with a deck providing stunning views. The resort also offers other options, including bungalows, villas, and studios. Guests can enjoy various outdoor activities near Manuel Antonio National Park, including hiking and surfing, while the hotel features a swimming pool, spa, and restaurant serving fresh, locally sourced Costa Rican cuisine. One of the resort’s main focuses is environmental sustainability, using sustainable materials for construction, solar energy, and a wastewater treatment system.
8. Astarte Suites, Greece
Astarte Suites is located in Akrotiri on the island of Santorini in Greece. The hotel features nine spacious suites, each with a private Jacuzzi or plunge pool, and a private balcony that overlooks the Aegean Sea. The suites are designed with a combination of traditional and modern elements, and are equipped with modern amenities like flat-screen TVs, iPod docks, and free Wi-Fi. Astarte Suites also has a spa that offers a range of treatments, as well as an outdoor infinity pool with panoramic sea views. The hotel’s restaurant serves a delicious breakfast buffet and Mediterranean cuisine made with locally sourced ingredients. Overall, Astarte Suites is an excellent choice for anyone seeking a getaway in a beautiful and peaceful location.
9. The Liberty Hotel, USA
Imagine staying in a luxurious hotel that was once a historic jail! That’s the experience you’ll get at The Liberty Hotel in the United States. This unique hotel located in Boston, Massachusetts was transformed from the Charles Street Jail, a 19th-century prison. The hotel’s design blends modern elegance with historic elements, creating a truly unique atmosphere that pays homage to its past. With comfortable and stylish rooms, gourmet dining options, and top-notch amenities, the Liberty Hotel offers an unforgettable stay that’s both luxurious and steeped in history.
10. La Balade des Gnomes, Belgium
La Balade des Gnomes is a quirky hotel located in Belgium that features 10 themed rooms. From a Trojan horse to a moon landing, each room has its own story to tell and immerses guests in a whimsical and magical atmosphere. The hotel’s owner, a former set designer, has created each room with great attention to detail, incorporating unusual elements like a tree trunk bed or a bathtub shaped like a giant champagne glass. The hotel also has a restaurant that serves gourmet meals made with locally sourced ingredients, and guests can enjoy a range of outdoor activities like hiking and cycling in the surrounding countryside. Overall, La Balade des Gnomes provides a truly unforgettable experience for guests who want to escape reality and enter a world of fantasy and creativity.
From sleeping in an airplane to staying in a room made of ice, these hotels offer some of the most unusual and unforgettable experiences one can have while traveling. The unique designs and immersive experiences make these hotels a great choice for those seeking a memorable and extraordinary stay.
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Steady rates (for now), continued Omicron uncertainty, upcoming loan limits, and more. Now more than ever, it’s important to stay proactive and updated on all news pertaining to today’s market. Let’s get right into it with this week’s Mortgage Monday update.
Rates Update
Another week, another report from Freddie Mac’s PMMS. The week of December 9 saw minimal changes for mortgage rates across the board compared to the week prior – a much-needed break considering the projected rise that has been in motion since earlier this year.
Despite this recent stabilizing of mortgage rates, the Omicron variant of COVID-19 still poses concerns that could result in market volatility in the coming weeks and months. According to some, the expectation of higher rates in 2022 may not be as dramatic as anticipated; under the condition that Omicron’s effects are significant enough, experts predict a slowdown in the rate rise as we enter the New Year.
With so much uncertainty surrounding mortgage rates, it’s important to keep in touch with your Total Mortgage loan officer. Rates remain at historic lows but are always subject to change – stay tuned for more information in next week’s update!
Upcoming Loan Limit Increases for 2022 – Conventional and FHA Options
In case you missed it, the Federal Housing Finance Agency (FHFA) and Federal Housing Administration (FHA) made big announcements regarding their borrowing limits for 2022. The result: more bang for your buck to help compete with rising market prices. With loan limit increases for both conventional and FHA options, these upcoming changes will benefit a wide range of borrowers and create more flexibility in the market. The start of the New Year will be a great time to lock in a new rate, so be sure to contact your Total Mortgage loan officer now to get the ball rolling.
For now, review the updated loan limits in detail below.
In Closing
As we continue through December, be sure to check back every Monday for the latest on mortgage rates, industry news, and more. Even with last week being relatively steady, things are almost certain to change as the holiday season ramps up and the Omicron situation evolves. Contact us if you have any questions and as always, we’ll be monitoring the news every step of the way to keep you in the know.