National
TODAY’S DEALS: Pollack Shores Adds Orlando Apartments to Portfolio
Pollack Shores Real Estate Group buys the 456-unit Sabal Palm at Metrowest II; Greystone acquires two development sites in Brooklyn; and Centerline Capital refinances an asset in Jacksonville.
Economy Watch: Strong Q1 for Fannie Mae
On Thursday, a day after Freddie Mac reported sizeable income in the first quarter, the considerably larger GSE Fannie Mae reported income of $8.1 billion for the first quarter of 2013, compared with income of $2.7 billion in the first quarter of 2012 and income of $7.6 billion in the fourth quarter of 2012.
TODAY’S DEALS: Health Care REIT Announces Big Investment Partnership
Health Care REIT will invest approximately $1 billion into a Canadian portfolio partnership; Morgan Properties and DRA acquire a 620-unit asset; and Marcus & Millichap arranges the sale of a distressed community in Tampa.
Mortgage Delinquency Rates Increase, But Foreclosure Inventory Rate Down Sharply
The delinquency rate for mortgage loans on one-to-four-unit residential properties increased to a seasonally adjusted rate of 7.25 percent of all loans outstanding at the end of the first quarter of 2013, an increase of 16 basis points from the previous quarter, but down 15 basis points from one year ago, according to the Mortgage Bankers Association’s National Delinquency Survey.
Economy Watch: Freddie Mac in the Black
Freddie Mac reported that it had a net income of $4.6 billion for the first quarter of 2013, compared to a net income of $4.5 billion for the fourth quarter of 2012.
Economy Watch: Home Prices Continue Upward Trajectory
More evidence that the housing market is in recovery mode.
Consumers Tip Scales of Home Price Change Expectations
More than half of Americans now expect the country’s home prices to climb within the next year, illustrating a growing optimism toward the health of the housing industry.
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.