19.6% of the office space in major U.S. cities was vacant in Q4 2023 according to Moody’s Analytics, an 18.8% increase year-over-year from 2022. These vacancy rates can be attributed to both years of overbuilding...
Read MoreMortgage rates finished 2023 with 9 consecutive weekly drops, setting the 30-year fixed rate at 6.61%. This trend hints at a more stable housing market, which could impact lending strategies and expectations for a modestly...
Read MoreThe apartment rental market stabilized in 2023, amid a surge of new supply that curbed price hikes, offering relief to tenants. Affordability remains a concern among renters who hit their financial thresholds after enduring years...
Read MoreOn December 13, the Federal Reserve Board voted to keep the federal funds rate in the range of 5.25% and 5.5%, a 22-year high. The Fed’s post meeting statement was adjusted to reflect slowing economic...
Read MoreHigher interest rates and home costs have led to an increase in mortgage assumptions – whereby homebuyers undertake an existing mortgage from the seller – to lock in a lower rate. Mortgage assumptions, which are...
Read MoreAccording to data from the Department of Labor, job openings decreased in October to a 2 and a half year low. There were 8.7 million open jobs in October, compared to 9.3 million in September....
Read MoreOne out of every three securitized office mortgages that expired during the first nine months of 2023 was paid off by the end of September, according to Moody’s Analytics. This share is well below that...
Read MoreCredit card loans grew 1.6% in October, while 30+ day delinquency rates rose 0.16 percentage points. Currently delinquent consumers with annual household incomes of less than $50,000 were using an average of 80-90% of their...
Read MoreAccording to the Wall Street Journal, foreclosures on higher-risk commercial property loans – particularly mezzanine loans – are increasing. Mezzanine financing, which often serves as second-lien debt, allows borrowers to meet tighter bank underwriting standards....
Read MoreThe Bureau of Labor Statistics released the consumer price index for October, which showed continued easing of price pressures. Prices rose 3.2% year-over-year, down from September and August, but remain elevated compared to the Federal...
Read MoreOn November 14, under the direction of the FHFA, Fannie Mae and Freddie Mac (the GSEs) each announced a $70 billion cap for multifamily loan purchases in 2024. The level for 2024 is lower than...
Read MoreProposals to convert vacant office space to multifamily housing face financing and development challenges. Support from the government through tax incentives and grants may not be enough for investors to get on board, as residential...
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