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- Breaks previous record, set earlier this year Given that commercial and multifamily mortgage originations are expected to hit a record high this year, it probably shouldn’t come as a shock that there’s more outstanding commercial and multifamily mortgage debt than there’s ever been before. According to newly released data from the Mortgage Bankers Association , outstanding commercial and multifamily mortgage debt climbed to a record high of $3.32 trillion in the third quarter, topping the previous high of $3.27 trillion, which was set in the previous quarter. Outstanding commercial and ... [Read More]



- Multifamily and commercial real estate tax experts say they are generally pleased but express concerns about how the program will be regulated and implemented. Paul Gevertzman, tax partners, Anchin (Image courtesy of Anchin) Commercial real estate tax experts said on Wednesday that they were encouraged by President Trump’s executive order establishing a council to oversee implementation of the opportunity zones created by the 2017 Tax Cuts and Jobs Act. However, they still had some concerns about how the program would be regulated by the Internal Revenue Service and Treasury Department. ... [Read More]



- Mortgage applications to purchase a newly built home dropped 11 percent in November, compared with a year ago, according to the Mortgage Bankers Association. Given the drop, MBA economists predict that sales of newly built homes in November fell 5 percent annually. This drop is surprising, given the sharp decline in mortgage rates in November, and therefore underscores the fundamental weakness in the housing market today. A contractor uses a hammer while working on townhouse under construction at the PulteGroup Metro housing development in Milpitas, California, Oct. 25, 2018.  Mortgage ... [Read More]


Source: cnbc.com


- MCLEAN, Va., Dec. 13, 2018 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) today released the results of its Primary Mortgage Market Survey ®  (PMMS ® ), showing that rates dropped significantly after several weeks of moderating. Sam Khater, Freddie Mac’s chief economist, says, “The 30-year fixed fell to 4.63 percent this week – the lowest it has been since mid-September. Mortgage rates have either fallen or remained flat for five consecutive weeks and purchase applicants are responding with an uptick in demand given these lower rates. While the housing market softened in response to ... [Read More]



- Ginnie Mae today announced that issuance of its mortgage-backed securities (MBS) totaled $33.668 billion in November. A breakdown of November issuance includes $32.192 billion of Ginnie Mae II MBS and $1.476 billion of Ginnie Mae I MBS, which includes $1.316 billion of loans for multifamily housing. Ginnie Mae’s total outstanding principal balance of $2.033 trillion is an increase from $1.903 trillion in November 2017. About Ginnie Mae Ginnie Mae is a wholly-owned government corporation that attracts global capital into the housing finance system to support homeownership for veterans and ... [Read More]


Source: mhpmag.com


- Median rents in Manhattan fell by 1.3 percent from a year earlier. (Bloomberg)—Manhattan’s apartment renters got a break in November , with leasing costs dropping after two straight months of increases. The median face rent -- before landlord concessions are factored in -- fell 1.3 percent from a year earlier to $3,318, appraiser Miller Samuel Inc. and brokerage Douglas Elliman Real Estate said in a joint report Thursday. It was the fourth annual decline in the past six months and followed surprise hikes in September and October. Key Insights Landlords were willing to sacrifice higher ... [Read More]



- Balfour Beatty earned a 30 percent return on the 437-unit multifamily asset, which it purchased from Resource Real Estate in 2016. Avana Woods Balfour Beatty has sold Avana Woods, a 437-unit Class B community in suburban Atlanta, for $59.6 million to Greystar, according to Yardi Matrix. The sale comes approximately two years after the seller acquired the asset for $45.5 million from Resource Real Estate. Last year, Balfour expanded its Atlanta holdings with the $78.8 million acquisition of nearly 900 units across three communities . Located at 8520 S. Holcomb Bridge Way in Alpharetta, Ga., ... [Read More]



- But originations to continue downward trend Mortgage originations are falling and will continue to do so in 2019, but rising home prices could cause an increase in homeowners seeking to tap into their equity, according to the 2019 consumer credit forecast from TransUnion . TransUnion forecasted that overall, originations to subprime or near prime borrowers will increase in 2019 as lenders grow more comfortable with risk. Mortgage originations, however, will not fall under that trend. TransUnion predicts originations to subprime borrowers will rise only .3 percentage points to 3.9%. But ... [Read More]



- Reno investors may expect appreciation at a rate in excess of 9 percent through August 31, 2019. These past few years, real estate media headlines have been filled with two words likely familiar to most investors: “syndication” and its cousin, “crowdfunding.” While syndications have been around for decades, crowdfunding is a more recent phenomenon, introduced by the Jumpstart Our Business Startups (JOBS) Act in 2012. Both syndications and crowdfunding are a way for companies to raise private money for their projects, while offering investors a way to passively participate in deals ... [Read More]



- The pace of headline inflation slowed from 0.3% in October to 0.0% in November as energy prices declined sharply. The Consumer Price Index (CPI), reported by the Bureau of Labor Statistics (BLS), was unchanged in November on a seasonally adjusted basis, following a 0.3% increase in October. The “core” CPI, which excludes the volatile food and energy components, increased by 0.2% in November, the same increase as in October. Over the past twelve months, on a not seasonally adjusted basis, the CPI rose by 2.2% in November, slower than the 2.5% gain in October; while the “core” CPI ... [Read More]



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