Walker & Dunlop, Bethesda, Md., provided $108.8 million in financing for Park Chelsea, a 429-unit apartment building in Washington, D.C.
Category: News and Trends
Zillow: Home Buyers Gaining Breathing Room
A warmer-than-normal housing market now shows signs of a typical late-summer seasonal cooldown, the latest Zillow market report said.
CONVERGENCE: Navigating the Obstacles in Multifamily Housing: Perspectives from the Affordable Rental Housing Advisory Council–Aug. 29
The demand for affordable housing continues to outstrip supply, and steep rental increases exacerbate the problem. Policy measures alone won’t solve these issues. MBA members have sought innovative ways to address the ongoing challenges in this space.
Industry Briefs Aug. 16, 2023
Industry briefs from Mobility Market Intelligence, Valligent and Xactus.
July New Home Purchase Mortgage Applications Increased 35.5%
The Mortgage Bankers Association Builder Application Survey (BAS) data for July 2023 shows mortgage applications for new home purchases increased 35.5% compared from a year ago. Compared to June 2023, applications increased by 0.2%. This change does not include any adjustment for typical seasonal patterns.
Redfin: U.S. Housing Market Hits Record at Nearly $47 Trillion in Total Value
Redfin, Seattle, reported the estimated total worth of U.S. homes hit a record $46.8 trillion in June, beating a record of $46.6 trillion set last year.
Commercial/Multifamily Borrowing Declines 53% Year-Over-Year in Second-Quarter 2023
Commercial and multifamily mortgage loan originations were 53% lower in the second quarter of 2023 compared to a year ago, and increased 23% from the first quarter of 2023, according to the Mortgage Bankers Association’s Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Quote: Aug. 16, 2023
“Applications for purchase loans on newly constructed homes remained strong in July, up 36% annually, as new homes continued to account for a growing share of homes available for sale.”
–Joel Kan, MBA’s Vice President and Deputy Chief Economist
STR, TE Lower Hotel Growth Forecast
STR, Hendersonville, Tenn., and Tourism Economics, Wayne, Pa., lowered their year-over-year growth projections in a revised 2023-24 U.S. hotel forecast.
Haven’t Reevaluated Your Document Automation Strategy Yet? Now’s the Time
Whether you’re an originator, servicer, wholesale lender or investor, managing loan documents and data effectively can mean the difference between the success or failure of your process automation strategies.