“Strong property fundamentals, rising values and low interest rates all contributed to the jump in volume, as well as strong demand from every capital source to make multifamily loans. The mix of lenders in the data show the depth and diversity of the apartment lending market.”
–Jamie Woodwell, MBA Vice President of Commercial Real Estate Research.
Commercial and multifamily developments and activities from MBA relevant to your business and our industry.
The Treasury Department issued new guidance Wednesday to increase state, local and tribal governments’ ability to use American Rescue Plan funds to increase affordable housing. The Mortgage Bankers Association commended the Biden administration for its commitment to addressing the ongoing housing shortage.
Eastern Mortgage Capital, Burlington, Mass. provided $41.7 million in permanent financing for Class A apartment property Broadway Lofts in downtown San Antonio, Texas.
The Mortgage Bankers Association released an updated economic forecast.
Trepp, New York, said the bank-issued commercial real estate loans it tracks generally performed better than commercial mortgage-backed securities loans last year.
Berkadia added Senior Managing Director Sabrina Solomiany, who will lead the firm’s newest specialty group, Medical & Life Sciences from the firm’s Atlanta office.
CoreLogic, Irvine, Calif., said annual U.S. single-family rent growth remained at a record high in May, posting a 13.9% increase from May 2021.
Rent increases tapered off in June, with the national median asking rent rising 14% from a year earlier–the smallest annual increase since October–reported Redfin, Seattle.
Higher mortgage rates are increasingly tipping the housing affordability scale in favor of renting over first-time buying, the National Association of Realtors reported.
