National
Economy Watch: Mortgage Delinquencies Continue to Edge Down
Lender Processing Services said that 6.59 percent of U.S. residential mortgages were delinquent in March, down from 6.8 percent in February.
For Renters, Housing Costs Up, Incomes Down
The cost burden of renting continues to increase for a large share of U.S. households, according to the latest Center for Housing Policy’s Housing Landscape report.
Economy Watch: Jobs Report Mostly Positive, Wall Street Reacts
The headline numbers from the Bureau of Labor Statistics—a net of 165,000 new jobs in April, and upward revisions for the previous months—were well received, especially by investors.
Economy Watch: Hiring Improves in April
The U.S. economy created 165,000 jobs in April, according to the Bureau of Labor Statistics, which isn’t completely robust but at least puts to rest fears of a sharp slowdown in hiring.
Economy Watch: Construction Spending Drops
The Census Bureau reported that U.S. construction spending during March 2013 was at an annualized rate of $856.7 billion, or 1.7 percent below the revised February figure. Compared with March 2012, the current figure is still 4.8 percent higher.
Economy Watch: Case/Shiller Shows Strong Home Price Growth
The data on the U.S. housing market continues to be good. The S&P-Case/Shiller Home Price Indices for February, which were released on Tuesday, showed that average home prices increased 8.6 percent and 9.3 percent for the 10- and 20-city composites in the 12 months ending in February 2013.
Q1 2013 Commercial/Multifamily Mortgage Bankers Originations Up 9 Percent from Q1 2012
First quarter 2013 commercial and multifamily mortgage loan originations were 9 percent higher than during the same period last year and 36 percent lower than the fourth quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
Economy Watch: Pending Home Sales Up
The National Association of Realtor’s Pending Home Sales Index, a forward-looking indicator based on contract signings, rose to 105.7 in March from a downwardly revised 104.1 in February.
Housing Partnership Equity Trust Launches with $100M in Funding for Affordable Communities
The Housing Partnership Equity Trust announced that it has raised $100 million. It will begin investing in multifamily communities in partnership with 12 high-performing nonprofit housing providers.
TODAY’S DEALS: Aragon Holdings Acquires Two Texas Assets
Aragon Holdings acquires two properties for $50 million; Centerline Capital facilitates an acquisition in Delaware; and GFI Realty sells an East Harlem apartment building.