The level of commercial/multifamily mortgage debt outstanding increased by $31.4 billion (0.7%) in the second quarter of 2024, according to the Mortgage Bankers Association’s latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.
Category: News and Trends
CMF Quote of the Week: Sept. 19, 2024
“Commercial mortgage debt outstanding grew at a modest pace in the second quarter.”
–Jamie Woodwell, MBA’s Head of Commercial Real Estate Research
RealPage: Student Housing Pre-Lease Season Ends Below 2023
RealPage, Richardson, Texas, reported student housing leasing results from August–which wrapped up the Fall 2024 pre-lease season. As of August, 92.8% of beds at the core 175 universities tracked were leased.
Nearly Half of Renter Households Cost-Burdened, Census Bureau Reports
Over 21 million renter households spent more than 30% of their income on housing in 2023; representing nearly half of the renter households for whom rent burden is calculated, the Census Bureau reported.
PACE Loan Group’s Bali Kumar: Interest Rate Changes Won’t Hinder C-PACE Financing’s Appeal to Developers
All of the talk about interest rates finally ticking down is making some developers wonder if Commercial Property Assessed Clean Energy (C-PACE) financing will continue to be accretive to their capital stacks.
Zillow Finds Mortgage Payments Lower Than Rent in 22 of 50 Largest Metros
A monthly mortgage payment is actually less expensive than rent in 22 of the 50 largest U.S. metros, according to a new Zillow Home Loans analysis.
Dealmaker: Gantry Secures $34.3M in Seattle-Area Transactions
Gantry, Seattle, announced it secured $34.3 million in new loans to refinance four Seattle-area assets owned by different and unaffiliated entities.
Redfin: Demand for Second-Home Mortgages Lowest Since 2016
Redfin, Seattle, reported mortgage rate locks for second homes fell 13.1% year-over-year in August, to hit the lowest level since March 2016 on a seasonally adjusted basis.
CREF Policy Update: Fed Vice Chair Michael Barr Unveils MBA-Supported Changes to Basel III Re-Proposal
Commercial and multifamily developments and activities from MBA important to your business and our industry.
Commercial and Multifamily People in the News Sept. 19, 2024
Industry personnel news from Merchants Bancorp, CBRE, JLL and Peachtree Group.