The community, Soleste Palm Station, will have 321 apartments in two eight-story buildings. 

Forté Luxe will bring 17 residences to a waterfront peninsula in the Intracoastal Waterway. 

The new name conveys a “concise, modern identity,” the company said. 

The financing comprises a $334,590,000 Freddie Mac senior loan and $85 million of subordinate debt. 

The NAHB/Wells Fargo Housing Market Index (HMI) rose seven points to 44, its second monthly increase in a row. 

Construction of the 65-condominium development by Ugo Colombo’s CMC Group is already underway, with an expected 2025 completion. 

Visions at Brickell Station will offer 111 condo-hotel units starting at $500,000. 

A 15% rise in applications for adjustable-rate mortgages drove overall mortgage applications higher in the most recent weekly survey. 

MBA states that the mortgage delinquency rate has fallen to the lowest rate since it started tracking this metric in 1979.

National Association of REALTORS® Chief Economist Lawrence Yun took issue with the increase, saying the central bank has created “a rare and very tight monetary policy condition.” 

The mortgage industry decried the proposed loan-level pricing adjustment for borrowers with higher debt-to-income ratios. 

Interest rates on mortgages of all types declined last week, spurring an uptick in borrowing, the Mortgage Bankers Association reported. 

As affordability remains a concern, some buyers are purchasing mortgage points.

This was the fourth week in a row of declines, leaving prospective buyers hopeful for sustained low rates throughout spring homebuying season.

The Mortgage Bankers Association noted the increase in borrowing activity came despite the 30-year fixed mortgage rate climbing to its highest level since November 2022. 

Mortgage insurance premiums on loans backed by the Federal Housing Administration will drop from 0.85% to 0.55% beginning March 20.