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- Continuing a period of weakness that began at the end of 2019, the volume of residential construction lending posted a slight decline during the third quarter of 2020. This decline occurred, however, during a period of rising builder confidence and expansion of single-family home building . These data suggest that home builders were deleveraging during the market rebound of the second half of 2020, as the cost of credit for development increased. The volume of 1-4 unit residential construction loans made by FDIC-insured institutions declined by 2.3% during the third quarter. The volume of ... Read More

- Housing Starts Rise Overall as Multifamily Construction Ebbs U.S. homebuilding surged in December to its highest rate in more than 14 years, according to Commerce Department figures. However, the gains occurred solely in single-family as multifamily starts dropped 13.6% compared to the previous month. Total housing starts for all of 2020 were 1.38 million, a 7% gain over the 1.29-million total from 2019. Single-family starts were up 11.7% year over year. Multifamily starts for 2020 were down 3.3% from 2019, and the sector saw a comparable Y-O-Y decline in permits. December’s annualized pace ... Read More

- HAMILTON, NJ - Total construction starts lost 5% in December, falling to a seasonally adjusted annual rate of $784.3 billion. Nonresidential building starts fell 11% during the month, while nonbuilding starts were 5% lower. Residential starts were essentially flat over the month. Starts were lower in three of the four regions in December; the South Central was the only region to post an increase. For the full year, total construction starts fell 10% to $766.3 billion. Nonresidential building starts saw the steepest drop, losing 24%, while nonbuilding starts fell 14%. Residential construction ... Read More

- The Census Bureau released its new for December 2020. It is the inverse of last month’s report with a drop this month in multifamily housing construction permits and starts but a sharp rise in the number of completions of multifamily housing units. Multifamily housing construction permits off slightly The number of permits issued for buildings with 5 or more units decreased in December to 437,000 units on a seasonally adjusted, annualized basis. This was down 2 percent from the revised figure for November, which was adjusted up by 5,000 units from the preliminary figure reported last month. ... Read More
Source: yieldpro.com

- MCLEAN, Va., Jan. 22, 2021 (GLOBE NEWSWIRE) -- Freddie Mac (OTCQB: FMCC) recently priced a new offering of Structured Pass-Through Certificates ( K Certificates ), which are backed by underlying collateral consisting of fixed-rate multifamily mortgages with predominantly 10-year terms. The company expects to issue approximately $1.2 billion in K Certificates (K-123 Certificates), which are expected to settle on or about January 28, 2021. K-123 Pricing Details Co-Lead Managers and Joint Bookrunners: Credit Suisse Securities (USA) LLC and Citigroup Global Markets Inc. Co-Managers: Bancroft ... Read More

- WASHINGTON — Rising material costs led by a huge upsurge in lumber prices along with a resurgence of the coronavirus across much of the nation pushed builder confidence in the market for newly built single-family homes down three points to 83 in January, according to the latest NAHB/Wells Fargo Housing Market Index (HMI) . Despite the drop, builder sentiment remains at a strong level, the National Association of Home Builders says. "Despite robust housing demand and low mortgage rates, buyers are facing a dearth of new homes on the market, which is exacerbating affordability problems," said ... Read More

- MCLEAN, Va., Jan. 20, 2021 (GLOBE NEWSWIRE) -- Freddie Mac ’s (OTCQB: FMCC) Multifamily line of business set a new record with $82.5 billion in loan purchase and guarantee volume in 2020. The company also provided $500 million in Low-Income Housing Tax Credit (LIHTC) equity investments , supporting underserved communities across the United States. The $83.0 billion in total production bests the company’s prior record of $78.4 billion set in 2019. Overall, the company financed roughly 803,000 rental units, more than 95% of which are affordable to families making 120% of area median income ... Read More

- The Bureau of Labor Statistics (BLS) released its producer price index report for December 2020. It showed that the BLS price index of materials and components for construction was up 0.8 percent from November, seasonally adjusted. It was 5.2 percent higher than its year-earlier level. Overall prices for processed goods for intermediate demand rose by 1.5 percent. This index was 1.3 percent higher than its year-ago level, reversing last month’s decline. For reference, the changes in these indices compare with a 1.4 percent rise in the all-items consumer price index (CPI-U) for the 12 months ... Read More
Source: yieldpro.com

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