Merchants Capital, Carmel, Ind., announced it secured $17.1 million in financing for a supportive housing development in Indianapolis for households recovering from addiction.
Category: News and Trends
Quote: July 30, 2024
“Home equity originations were relatively flat in 2023 compared to 2022.”
–Marina Walsh, CMB, MBA’s Vice President of Industry Analysis.
Bankrate: Mortgage Lock-In Effect Unlikely to Ease Soon
Nearly half of current homeowners say mortgage rates need to be below 5% for them to be comfortable purchasing a new home, while 38% say they need rates to be below 4%, according to Bankrate, Charlotte, N.C.
Dealmaker: Walker & Dunlop Secures $286M for Temple University Student Housing
Walker & Dunlop, Bethesda, Md., closed a $285.5 million refinancing for Vantage and The View at Montgomery in Philadelphia, two student housing properties on Temple University’s campus.
MBA: Home Equity Lending Volume Stays Relatively Flat in 2023; Debt Outstanding Increases
Total originations of open-ended Home Equity Lines of Credit (HELOCs) and closed-end home equity loans increased in 2023 by 1.5% compared to the previous year, while debt outstandings increased 8.3%.
RE/MAX: Costs Hold Back Eager Millennial, Gen Z Buyers
RE/MAX, Denver, released a new survey finding that 63% of Millennial and Gen Z respondents are ready to become homeowners, but are discouraged by the current environment.
Down Payment Resource: Homebuyer Assistance Programs Increase to Highest Count on Record
Down Payment Resource, Atlanta, released its Q2 Homeownership Program Index report, finding that the number of national homebuyer assistance programs has reached the highest count on record–2,415.
MBA Advocacy Update: House Hearing Explores Housing Solutions
This week’s top legislative and policy news from the Mortgage Bankers Association.
Quote: July 29, 2024
“The second-quarter profit report offers a mixed bag of plusses and minuses that added up to an overall picture of not much change for sellers.”
–Rob Barber, Chief Executive Officer for ATTOM
Dealmaker: Gantry Secures $40M Loan to Refinance Washington Multifamily
Gantry, New York, secured a $40 million permanent loan to refinance an apartment complex on Mercer Island, a Puget Sound community between Seattle and Bellevue, Wash.