According to the 2013 year-end Trepp report, about $1.4 trillion in commercial mortgages are anticipated to mature between 2014 and 2017. This, coupled with higher taxes and uncertain economic conditions, may result in fewer lenders willing to refinance. The northeast states (including New York, New Jersey and Connecticut), represent 30% of all maturing commercial mortgage […]
U.S. investment sales volume reached $76 billion in the third quarter of 2013, which is up 29% year after year, according to Jones Lang LaSalle New York Capital Markets. This is due to the rise in volume in office, retail and industrial real estate markets. So far, $65 billion in Commercial Mortgage-Backed Securities (CMBS) have […]
The Federal Reserve Bank of New York recently came out with its biannual Small Business Credit Survey, which showed lenders expressing a more positive attitude towards small business financing. The survey — which received more than 800 responses from businesses from New York, New Jersey and Connecticut — showed that almost half (44%) of small […]
Affordable Financial Services LTD has private equity money to lend on commercial properties in the five boroughs. 50 LTV/CLTV max. Please send scenarios to info@afsmtgcorp.com. For tips and strategies on working with Affordable Financial Services LTD’ lending niches and programs, visit http://twitter.com/Afslo.
The Commerce Department reported today that spending on non-residential real estate construction fell in August, despite gains made in the housing market. Overall construction spending — residential, commercial and government — fell 0.7% in August compared to July, according to Commerce. It was the second straight month of losses. This drop has lowered construction spending […]
The housing market may be impacted by the possibility of a government shutdown. The Wall Street Journal reported on April 7 that Housing and Urban Development Secretary Shaun Donovan told Senate lawmakers that he is “very concerned” that if the government shuts down as a result of lawmakers failing to reach an agreement on a […]
A recent article in the NY Daily News discusses how the government’s Home Affordable Modification Program (HAMP) can reduce a homeowner’s credit score by as much as 100 points, especially for borrowers who are currently making their payments on time but are on the verge of default. So far, the program has failed to meet […]
The Associated Press reported this week that the government’s mortgage relief plan has helped only 16% of borrowers who signed up since the plan’s launch last year. According to the Treasury, till last month, 170,000 homeowners had completed their applications and undergone permanent loan modifications, out of the 1.1 million homeowners who enrolled in the […]
After last week’s decline, mortgage rates fell again this week, continuing to remain below 5%, according to Freddie Mac’s weekly survey. This week’s 30-year fixed-rate mortgage rate averaged at 4.95%, slightly lower than the average rate of 4.97% the previous week and lower than the average rate of 5.03% last year. The 15-year fixed rate […]
A survey conducted by the National Association of Business Economists found that a 42% of business economists expect the Federal Reserve to increase interest rates by between a quarter and a half percentage point within the next six months. The Federal Reserve is expected to end its $1.25 trillion purchase program of mortgage-backed securities by […]