Loan Limits Raised for Mortgages to be Acquired by the Enterprises
WASHINGTON, DC — The Federal Housing Finance Agency has announced an increase in conforming loan limits (CLLs) for mortgages to be acquired by Fannie Mae and Freddie Mac (the Enterprises) in 2022.
In most of the U.S., the 2022 CLL for one-unit properties will be $647,200, an increase of $98,950 from $548,250 in 2021, according to the FHFA.
The Housing and Economic Recovery Act of 2008 requires that the baseline CLL for the Enterprises be adjusted annually to reflect changes in the average U.S. home price. According to the latest FHFA House Price Index (HPI), house prices increased 18.05%, on average, between the third quarters of 2020 and 2021. Due to rising home values, the baseline CLL in 2022 in all but four U.S. counties or county equivalents will increase by the same percentage, the FHFA said.
“These increases are an important step to ensure that government-backed mortgages keep pace with the sharp rise in home prices over the past year,” said Robert Dietz, chief economist for the National Association of Home Builders. “Supply-side challenges, including building material bottlenecks and lot and labor shortages, will continue to place upward pressure on construction costs and home prices in 2022.”
For additional information, visit https://www.fhfa.gov/CLLs.
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Ceramics of Italy Tile Competition Open for Entries
NEW YORK — Confindustria Ceramica (the Italian Association of Ceramics) and the Italian Trade Agency have announced that the 2022 Ceramics of Italy Tile Competition is open for entries.
The annual awards program celebrates the exceptional work of top North American architects, designers, and students who use Italian ceramic and porcelain tile in their projects “to create innovative solutions that demonstrate an understanding of the material’s practical, aesthetic, and sustainable benefits,” competition sponsors said.
An international jury of design experts will select winners and honorable mentions in four built project categories, including new construction and residential, as well as a winner in the student category. Architects and designers based in the U.S. or Canada and students currently enrolled in a North American college or university are invited to submit their work through January 7, 2022.
Winners and honorable mentions will be notified in February and announced during the next edition of Coverings, the largest international tile and stone exhibition in North America, scheduled to take place in Las Vegas April 5-8, 2022. Winners will be invited to attend the show and present their projects in front of an audience of design and trade media, manufacturers, and tile industry professionals, sponsors said, In addition to a cash prize of $1,500, the four built project category winners will receive a five-day CEU trip to attend Cersaie, the world’s largest exhibition of ceramic tile and bathroom furnishings, set for Sept. 26-30, 2022 in Bologna, Italy.
Competition guidelines, submission forms and additional information can be found on the Ceramics of Italy Tile Competition website, www.tilecompetition.com.
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Indulgent Reflections
While bath accessories are often touted for the organization or comfort they provide, products such as medicine cabinets and mirrors can be statement-making pieces while they provide a needed function. Lighting is a key component of today’s mirrored fixtures, and many deliver different colors and temperatures to add brightness or a softer atmosphere, depending upon what is desired.
Some of the trends in bath mirrors and medicine cabinets include:
–Specialty lighting within mirrors that adjusts according to need and personal preference, including for makeup application and grooming as well as to mimic daylight and indoor lighting.
–Refrigeration within medicine cabinets to help preserve expensive face creams or properly store medications.
–Electronic outlets inside cabinets that supply power for hairdryers and electric shavers, as well as charging stations for cell phones and tablets.
–Backlighting on mirrors and medicine cabinets with color settings for drama and night-light displays for middle-of-the-night visits.
–Medicine cabinets and mirrors with smart capabilities for connected function, complete with disappearing television screens and computer settings for music, weather and other reports.
–Mirrors in dramatic shapes that enhance the overall design or act as the focal point of the bath.
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