The industry is coming together in Chicago for the sixth annual iOi Summit, a two-day conference on August 28th and 29th where NAR's venture capital arm, Second Century Ventures, will host a pitch battle competition. Each participant will give a four-minute live presentation about their product or service, followed by a four-minute rapid-fire question-and-answer session with a panel of judges. The 12 participating startups were announced this morning. Overview of participating companies: Azure uses 3D printing technology to build sustainable, affordable housing. Faura provides loss control solutions for insurance companies and homeowners of high-risk properties. Home Lending Pal leverages AI-powered…
Author: Private Lending Agent
Blackstone is selling commercial mortgage debt to finance its planned $10 billion acquisition of apartment operator AIR Communities. https://t.co/sQGxLglotg— Mortgage Professional America Magazine (@MPAMagazineUS) July 12, 2024 Horn said the current trickle of refinancings is expected to expand into a “tsunami” as the year progresses, and loans being modified in 2023 are also scheduled to be added to the regular flow of needed refinancings.[At the] “We expect the end of the year to be very busy on the commercial lending side, starting at the end of the fourth quarter of 2024 and going into all of 2025,” he said.…
“Despite challenges such as the COVID-19 pandemic and changing economic policies, the market has demonstrated remarkable adaptability,” ATTOM wrote in the report, “There were initial pandemic-related foreclosures but then stabilization as businesses adapted to the new reality.” California led the nation in commercial residential foreclosures in June 2024, totaling 214. This is a 10% decrease from the previous month, but a significant increase of 289% from the same month last year. This decrease marks the state's first monthly decrease after seven months of increasing foreclosures, when the number of foreclosures surpassed 100 in November 2023 and continued to increase thereafter.…
Author: JC Casillas This post originally appeared on NAI Capital's Featured Insights and is republished with permission. Learn how to submit your blog to theBrokerList.Q2 2024: Amid high interest rates, vacancy rates rise, rents and sales prices fall, while rents and retail sales prices rise in the multifamily sector despite rising vacancy ratesThe largest mixed-use apartment complex under construction has been completed at 5420 Sunset Blvd in Hollywood, California, with 735 units and 95,000 square feet of retail space. July 2024 | JC Casillas, Managing Director of Research and Public Relations, NAI Capital CommercialLos Angeles County's commercial real estate market…
Investing.com – The European Central Bank kept interest rates unchanged on Thursday, as was widely expected, following a rate cut at its last meeting. The bank kept its benchmark deposit rate at 3.75% after lowering it from a record 4% in June. The interest rate on its main refinancing operations also remained at 4.25% and its marginal lending rate remained at 4.50%. The lack of movement this month was largely expected, with many officials arguing that while price pressures are easing as expected, risks remain and more data is needed before further rate cuts become a reality. The market has…
Today’s mortgage rates Average mortgage rates inched lower yesterday but only by the smallest measurable amount. And they remain very close to the five-month lows they reached on Monday, according to Mortgage News Daily. First thing, it was looking as if mortgage rates today might barely budge. But that could change later in the day. Current mortgage and refinance rates Find your lowest rate. Start here ProgramMortgage RateAPR*Change Conventional 20-year fixed 6.674% 6.73% -0.06 Conventional 15-year fixed 6.376% 6.451% -0.08 Conventional 10-year fixed 6.328% 6.404% -0.04 Conventional 30-year fixed 6.857% 6.904% -0.06 30-year fixed FHA 6.782% 6.83% -0.02 30-year fixed…
The euro was slightly lower on Thursday. At the start of the North American session, EUR/USD was trading at 1.0919, down 0.18% from the previous day. The euro has not had a lower day since July 9th, and is up 1% in that period. ECB keeps interest rates at 3.75% The European Central Bank kept its key lending rate unchanged at 3.75% at its meeting today, following a quarter-point rate cut in June. The decision to keep rates unchanged was widely expected, especially after the June rate cut, and the euro had a subdued day. Markets are focused on ECB…
The exterior of the European Central Bank before a press conference in Frankfurt, Germany, September 14, 2023. The bank decided on Thursday not to cut interest rates. File photo by Ronald Vitek/EPA-EFE July 18 (UPI) — The European Central Bank's (ECB) Governing Council decided Thursday to keep interest rates unchanged following a rate cut in June. The ECB kept its key rate unchanged at 3.75%, saying it wants to hold its policy rate steady for the time being given ongoing inflationary pressures and may consider an opportunity to cut rates later this year. advertisement “The Governing Council today decided to…
The top 10 companies' share of new single-family home transactions in 2023 was 42.2%, down 1.3 percentage points from 2022 (43.5%). This is the second-highest share of the top 10 companies since NAHB began tracking new single-family home transactions in 1989. This share represents 280,958 of the 665,500 transactions in 2023. However, the top 10 companies' transactions represent only 28.1% of new single-family home completions, a broader measure of homebuilding that also includes non-for-sale home construction. Historical data shows that since 1989, the top 10 companies' share of new single-family home sales has been on an overall upward trend. That…
A low appraisal is when an appraiser values your home for less than the agreed-upon selling price, which can be disappointing if you're relying on the sale proceeds to fund the purchase of your next home. A low appraisal can occur for a variety of reasons, so it's important to first review your appraisal report to identify any inaccuracies or overlooked areas that could be challenged. In this article, we'll take a closer look at factors that can affect your appraised value, including market conditions, the physical condition of your home, and miscalculations by an appraiser. With the right help,…