Mortgage rates hit 1-year low; Alexandria profits from AirBnb; Arlington pitches tax hike; and more

It's challenging to keep up with local news, particularly the items that may impact your life, your commute, or your community. That's why each week we compile a few interesting developments happening in the area.

The Washington Post: Mortgage rates fall for the third week in a row

"Mortgage rates’ steady decline is making purchasing a home more affordable just as the spring buying season heats up. According to the latest data released Thursday by Freddie Mac, the 30-year fixed-rate average dipped to 4.35 percent with an average 0.5 point. (Points are fees paid to a lender equal to 1 percent of the loan amount.) It was 4.37 percent a week ago and 4.40 percent a year ago."

Washington Business Journal: U.S Home Builder Confidence Hits Four-Month High

"A brisk run-up in mortgage rates, combined with elevated pricing and a limited number of homes listed for sale, damped the U.S. housing market in 2018. But in recent months, home builders’ confidence has grown again."

ArlNow: County Manager Pitches Tax Hike to Meet School Needs, But Otherwise Avoids Many Cuts in New Budget

"Arlington’s top executive is calling for a real estate tax hike and some select staff cuts to meet rising expenses passed along by county schools. However, County Manager Mark Schwartz’s proposed budget for the new fiscal year is not quite as unpalatable as he’d initially feared."

Washington Business Journal: Boundary Cos., still thinking long-term, expands Eisenhower Ave. footprint

"The Boundary Cos. has paid $15.1 million for the Atlantic Self Storage site near the Van Dorn Metro station in Alexandria, with plans to eventually redevelop the property as the city's longer-term vision for the Eisenhower Avenue corridor takes shape."

Alexandria Times: New Mexican restaurant brings a touch of urban(o) flair to King Street

"Crossing the hot pink entryway into Urbano 116 feels more like slipping into a high-end cocktail bar off the streets of Mexico City than it does going out for a bite in Old Town. Geometric tiles line the floor and bar. Sleek black barstools are offset by whitewashed, exposed brick walls. Masked luchadores glare out from brightly lit display cases. A neon pink sign has you longing for churros."

Alexandria Living Magazine: City of Alexandria Profits from Airbnb Rentals

"Residents using Airbnb and other web-based home sharing services are sending hundreds of thousands of dollars back to the City in the form of taxes."

Alexandria Living Magazine: Longtime Alexandria Business, Diversions, to Close Its Doors

"Diversions, the greeting card shop located in the Fairlington Centre shopping center off of Quaker Lane in Alexandria, will close its doors April 30 after being in business there for 34 years, owner Lindsey Bashore said Monday."

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