Tag: Blog
Multifamily mortgage debt outstanding reported higher in Q2
The Mortgage Bankers Association (MBA) reported that multifamily mortgage debt outstanding rose by $19.35 billion in Q2 from the revised level of the quarter...
SFR rent growth rate edges lower
CoreLogic reported that their single-family rent index (SFRI) for July rose 2.8 percent from its year-earlier level. This is down 0.1 percentage point from...
Multifamily starts forecast revised lower
Fannie Mae’s September housing forecast calls for fewer multifamily housing starts in 2024 and 2025 than in last month’s forecast. The downward revision follows...
Fed delivers large interest rate cut
Federal Open Market Committee (FOMC) met this week and, in an unusual pre-election move, decided to lower their target interest rate by 0.5 percentage...
Multifamily completions surge in August
The Census Bureau’s new residential construction report stated that multifamily completions leapt to a multiyear high in August. However, multifamily starts fell despite higher...
Construction materials prices reported higher in August
The producer price index (PPI) report from the Bureau of Labor Statistics (BLS) stated that construction materials prices were up 0.2 percent month-over-month in...
Multifamily CMBS special servicing rate rises in August
Trepp reported that special servicing rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher in August, climbing 60 basis points. The overall CMBS...
Residential construction shows weakness in latest employment report
The Employment Situation Report from the Bureau of Labor Statistics reported that overall employment growth rose in August from the gain initially reported for...
Rent growth turns negative in August
Yardi Matrix reported that national average apartment asking rent was down $1 in August compared to the revised level of the month before at...
Multifamily employment grows despite lower overall openings
The Job Openings and Labor Turnover (JOLT) report from the Bureau of Labor Statistics (BLS) said that the number of job openings in July...
Multifamily CMBS delinquency rate continues to move higher
Trepp reported that the delinquency rate for multifamily commercial mortgage-backed securities (CMBS) loans moved higher again in August, rising 67 basis points. This is...
Multifamily construction spending slides in July
The Census Bureau’s report on construction spending said that the value of multifamily residential construction put in place in July was down 0.04 percent...
Multifamily property prices decline in July
CoStar reported that its value-weighted index of multifamily property prices fell 0.6 percent month-over-month in July after three months of gains. This index was...
Rent growth turns negative in August
The latest rent report from Apartment List shows that the national median monthly rent growth in August was -0.1 percent. Year-over-year rent growth was...
Housing goals set and actions defined for GSEs
The Federal Housing Finance Agency (FHFA) has proposed 2025-2027 housing goals for Fannie Mae and Freddie Mac for lending on both single-family and multifamily...
