Commercial Mortgage Delinquency Rates Increased in the Second Quarter of 2024
Commercial mortgage delinquencies increased in the second quarter of 2024, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report.
To the Point With Bob–Amid Grand Visions, MBA is Tackling Housing Shortage One Program at a Time
The lack of affordable housing is a big issue this election year, writes MBA President and CEO Bob Broeksmit, CMB.
Yardi Matrix: Multifamily Rents Flat in August
Yardi Matrix, Santa Barbara, Calif., released its data on multifamily rents in August, finding that they were essentially flat, with just a $1 drop to $1,741 from July. Year-over-year growth was unchanged at 0.8%.
CMBS Special Servicing Rate Leaps in August, Trepp Finds
Trepp, New York, reported the commercial mortgage-backed securities special servicing rate jumped in August, climbing 16 basis points to 8.46%.
CREF Policy Update: Register for MAA’s Next Quarterly Webinar on Sept. 17
Commercial and multifamily developments and activities from MBA important to your business and our industry.
142,000 Jobs Added in August, Unemployment Rate Stagnant
The U.S. Bureau of Labor Statistics released jobs data from August, finding that total nonfarm payroll enrollment increased by 142,000. The unemployment rate changed little at 4.2%.
Green Street: Commercial Property Prices Up 3.3% This Year
Green Street, Newport Beach, Calif., reported its Commercial Property Price Index increased 1.6% in August. The index--a measure of pricing for institutional-quality properties--is up 3.3% this year.
Redfin: Florida, Texas Condo Markets Struggle
Redfin, Seattle, released a recent report looking at condo activity in Florida and Texas amid growing insurance and HOA costs. In major metro areas in both states, inventory is increasing, but pending sales are dropping, the report noted.
Dealmaker: Calmwater Capital Funds $17M Multifamily Construction Loan
Calmwater Capital, El Segundo, Calif., provided San Diego-based Greenline Development Group with a $16.5 million construction loan on a 69-unit multifamily property in San Diego.
