National
Economy Watch: Yellen Says Fed Will Stay the Course
Yellen outlines a plan of continuity, though the Bureau of Labor Statistics reports that job openings are slightly down. In addition, the House votes to raise the debt ceiling with no strings attached. The Senate is likely to do the same.
SPECIAL REPORT: MBA Delivers Cautious Economic Outlook for 2014
Mortgage originations for multifamily and commercial real estate in the last quarter of 2014 reached the highest volume achieved since 2007. Multifamily financing, in particular, has returned to levels last witnessed at the peak of the market.
TODAY’S DEALS: M West Adds 248 Units to LA Portfolio
M West Holdings acquires an apartment in Torrance, Calif.; Besen & Associates brokers the sale of a Section 8 community in the Bronx; and a three-property Santa Monica apartment portfolio trades for $28.5 million.
Economy Watch: Debt Ceiling Lumbers Back Onto National Stage
The House is again working on a bill to raise the debt ceiling, and the Las Vegas housing market is showing signs of a recovery now that 72 percent of residential transactions are conventional.
Economy Watch: January Jobs Numbers Mixed, Budget Deficit Shrinks
January numbers show that construction and manufacturing jobs are hot, while professional and business services jobs are not. Also, the Congressional Budget Office reports a shrinking budget deficit.
Fannie Mae Provides $28.8 Billion in M-F Financing in 2013
Fannie Mae details its 2013 financing activity. The GSE met the FHFA’s 10 percent reduction mandate from 2012 levels, though the entity still saw an uptick in seniors and manufactured housing activity.
TODAY’S DEALS: Baltimore M-U Asset Lands $120M for Redevelopment
HFF secures $120 million for Hekemian’s mixed-used redevelopment in Baltimore; Berkeley Point Capital executes a $9.8 million refinancing in San Antonio; and BMC Capital provides a $1.3 million loan for a property in Austin.
Borrowers Start Using Freddie Mac Index Lock Program
Centerline Capital Group has become one of the first lenders to execute under the new Index Lock program with a $13.3 million loan for a Texas property.
Economy Watch: Job Growth Tepid in January
The U.S. economy created 113,000 jobs in January and the unemployment rate falls to 6.6 percent. In addition, Trulia reports that home prices continue to rise, albeit at a slower rate.
TODAY’S DEALS: Bell Partners Acquires Fort Lauderdale Apartment
Bell Partners picks up a 336-unit community; NorthMarq Capital negotiates a $30.5 million acquisition loan; and Pembrook Capital Management closes $7.3 million to recapitalize a mixed-use community in Chicago.