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- MCLEAN, Va., Feb. 14, 2019 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) announces the pricing of the SB59 offering, a multifamily mortgage-backed securitization backed by small balance loans underwritten by Freddie Mac and issued by a third-party trust. The company expects to guarantee approximately $562 million in Multifamily SB Certificates (SB59 Certificates), which are anticipated to settle on or about February 27, 2019. Freddie Mac Small Balance Loans generally range from $1 million to $6 million and are generally backed by properties with five or more units. This is the second SB ... [Read More]



- The Job Openings and Labor Turnover (JOLT) report for December was released by the Bureau of Labor Statistics (BLS) Tuesday. Its data on the parts of the job market of interest to the multifamily industry, real estate management and construction, show employment gains in both areas. The BLS reported that there were 7.3 million job openings, both private sector and government, at the end of December.  This is the highest number ever reported since the BLS began compiling this data. An earlier report from the BLS had pegged the number of unemployed people at 6.3 million, so there continue to ... [Read More]


Source: mhpmag.com


- Total mortgage application volume fell 3.7 percent last week compared with the previous week, according to the Mortgage Bankers Association's seasonally adjusted index. Volume was 11 percent lower than a year ago, even though rates were only a tiny bit higher then. Mortgage applications to purchase a home fell 6 percent for the week and were 5 percent lower than one year ago. Prospective buyers at an open house outside Dallas in Coppell, Texas. The lowest interest rates in nearly a year were not enough incentive to juice mortgage demand. Total mortgage application volume fell 3.7 percent last ... [Read More]


Source: cnbc.com


- The results of the ICC Group A 2018 model codes vote have been finalized, and NAHB got many of the changes it was hoping for – and blocked many undesired changes – thanks in large part to member mobilization. Overall, NAHB saw favorable votes on 87% of the codes proposals, including 92.5% of high-priority proposals. One notable win was a code that will allow tall buildings – up to 18 stories in height – to be built using mass timber framing. This may be a cost-effective way for builders to construct mid-rise multifamily housing. A notable disappointing result also involved taller ... [Read More]


Source: nahbnow.com


- Despite the housing-focused slowdown during the second half of 2018, the count of unfilled jobs in the construction sector surged in December. According to the BLS   (JOLTS) and NAHB analysis, the number of open construction sector jobs increased to a cycle high of 382,000 in December. This is significantly higher than the December 2017 estimate of 149,000. The open position rate (job openings as a percentage of total employment plus current job openings) increased from 3.9% to 4.9%. The rate was just 2.1% a year ago. On a smoothed, twelve-month moving average basis, the open position rate ... [Read More]



- Year-over-year growth has increased by 10 basis points to 3.3 percent, according to a Yardi Matrix survey of 127 markets, matching the highest rent growth since November 2016. The multifamily industry continues to perform strongly into 2019. Although rents did not increase from the $1,420 recorded in January , year-over-year growth has risen by 10 basis points to 3.3 percent, according to a Yardi Matrix survey of 127 markets. This matches the highest rent growth since November 2016.  In terms of market performance, once again Las Vegas led the pack, with a rent growth of 7.9 percent. ... [Read More]



- NAHB’s official safety sponsor,  Builders Mutual Insurance Company , has partnered with the  Job-Site Safety Institute (JSI) to showcase the latest workplace safety solutions with daily microlearning presentations and exhibitors specializing in cutting-edge construction safety products in the inaugural  IBS Jobsite Safety Zone  — located in booth N663 of the North exhibition hall. Siding manufacturer James Hardie (Safety Zone booth N662) will be introducing a new safety program created specifically for siding contractors in partnership with the NAHB Safety 365 campaign. The ... [Read More]


Source: nahbnow.com


- “This is great news for consumers who will be looking for homes during the upcoming spring homebuying season. Mortgage rates are essentially similar to a year ago, but today’s buyers have a larger selection of homes and more consumer bargaining power than they did the last few years.” - Sam Khater, Freddie Mac chief economist We may only be six weeks in, but 2019 appears to be shaping up as a better year for buyers than in 2018. Setting the stage for a solid springtime sales, 30-year fixed rate mortgage rates recently hit a 10-month low, according to Freddie Mac . “The U.S. economy ... [Read More]



- Multifamily lending ends the year up from 2017 Recently, the Mortgage Bankers Association predicted that multifamily lending was on track to set another record in 2018. And now that 2018 is over, we’re starting to get a look at just how good of a year it was for multifamily lending. And just as expected , it appears that multifamily mortgage lending finished the year off on a strong note. A new report from the MBA shows that multifamily mortgage originations jumped 32% in the fourth quarter over the same time period in 2017. Overall, commercial real estate lending was up in the fourth ... [Read More]



- The 20,000 units delivered since the start of 2017 are quickly being absorbed, with occupancy in stabilized assets climbing to 94.4 percent in October. Atlanta rent evolution, click to enlarge Atlanta continued its delayed yet broad expansion, sustained by solid population growth and a successful economy. Demand for housing has increased rents by 5.4 percent year-over-year through November to $1,255, still trailing the national average. While the figure is lower than in many major metros, Atlanta’s cost of living has risen faster than average incomes. The 20,000 units delivered since the ... [Read More]



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