Trepp, New York, reported the CMBS delinquency rate grew 42 basis points to 6.4%.
Category: News and Trends
Renting More Affordable in 50 Major Metro Areas, Realtor.com Finds
Realtor.com recently reported that across the top 50 major metro areas, median asking rent stood at $1,720.
Dealmaker: Walker & Dunlop Closes $149M Refinance for New York Mixed-Use Property
Walker & Dunlop, Bethesda, Md., arranged $148.5 million in loan proceeds to refinance a mixed-use property developed by Steiner NYC in Brooklyn, N.Y.
CREF Policy Update: President-elect Donald Trump Nominates Scott Turner as HUD Secretary; Scott Bessent as Treasury Secretary
Commercial and multifamily developments and activities from MBA important to your business and our industry.
CBRE Forecast Calls for Hotel Growth to Improve in Late 2024, Early 2025
U.S. hotel performance should start to accelerate soon despite a sluggish summer and third quarter, according to CBRE, Dallas.
CMF Quote of the Week
“The 4% increase in the multifamily loan purchase caps to $73 billion for each GSE is appropriate, given the slightly improved market conditions and lending activity that’s expected next year due to the slow decline in interest rates.”
–MBA’s President and CEO Bob Broeksmit, CMB
Fannie Mae Finds Most Consumers Support Building New Housing; Disagree on Details
Far more consumers say affordable housing is harder to find than a few years ago, but more than half believe house prices, rent and local taxes will increase if more homes are built in their neighborhood, a recent Fannie Mae survey found.
Multifamily, Single-Family Rents Fall Slightly in October, Yardi Matrix Finds
Yardi Matrix, Santa Barbara, Calif., reported that multifamily advertised rents fell $3 to an average of $1,748 in October.
Dodge Momentum Index Dips 5% in October
The Dodge Momentum Index, which tracks nonresidential building projects in the planning stage, decreased 5.3% in October to 197.2 from September’s 208.2 reading.
Chart of the Week: CRE Property Sales and Borrowing
After a slow start to this year, borrowing and lending backed by commercial real estate properties picked up during the third quarter. Originations increased 59% compared to a year ago and increased 44% from the second quarter of 2024.