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Category: News and Trends
MBA Opens Doors Foundation Receives Over $240,000 from Lennar Mortgage, CMG Financial Fundraising Campaigns
The MBA Opens Doors Foundation announced that it has received a total of $240,957 from Lennar Mortgage’s 11th Annual Derby, and CMG Financials’ ‘Give Back Competition’ fundraising campaign. The funds will allow Opens Doors to further deliver on its mission of providing mortgage and rental assistance to families with critically ill or injured children, allowing parents and guardians to be by a child’s side during treatment without fear of losing their home.
MBA Chart of the Week: Monthly Payroll Growth and Unemployment Rate
The job market definitively slowed in July. Nonfarm payroll growth at 114,000 was well below the 12-month average of 215,000, while the unemployment rate moved up to its highest level since October 2021 at 4.3%, as shown in this week’s chart.
Unemployment Rises to 4.3% in July
Total nonfarm payroll increased by 114,000 in July, per the U.S. Bureau of Labor Statistics.
Yardi Matrix: July Multifamily Data Shows Positive Signs Despite Modest Rent Growth
Yardi Matrix, Santa Barbara, Calif., found multifamily advertised rents rose for the sixth straight month in July as demand from economic growth and demographics remained solid. The average rent increased $4 to $1,743, or 0.2% month-over-month, and is up by 0.8% year-over-year.
Lodging Econometrics Expects Hotel Supply Growth Through 2026
The hotel construction pipeline just reached a record.
Dealmaker: Greystone Provides $14.5M in Financing for Alabama Multifamily
Greystone, New York, has provided a $14.5 million Fannie Mae Delegated Underwriting & Servicing loan to refinance a 216-unit multifamily property in Hoover, Ala., near Birmingham.
CREF Policy Update: Federal Reserve Keeps Rates Unchanged; Rate Cut in September?
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Fed Holds Rates Steady Again
The Federal Reserve again held rates steady July 31, noting that there has been “some further progress toward the Committee’s 2% inflation objective” over the past few months.
MSCI: Commercial Property Prices Rise in June
Commercial property prices broke from their pattern of declines in June after a year and a half of losses, according to MSCI, Inc., New York.