Just before Congress departed for its recess this week, and before this weekend’s tragic events that unfortunately highlighted our current political polarization, Republicans and Democrats in Congress came together to introduce a bipartisan bill that advances one of NAIOP’s top legislative priorities. The Downtown and Main Street Revitalization Act (H.R. 9002) was introduced last Thursday by 12 original co-sponsors (six Republicans and six Democrats, all members of the House Ways and Means Committee responsible for tax policy). HR 9002 would encourage the conversion of underutilized commercial real estate to residential uses, helping to address historically high office vacancy rates resulting…
Author: Private Lending Agent
Federal Reserve Chair Jerome Powell, pictured at a 2023 FOMC press conference, has indicated he favors re-proposing Basel III Endgame. Screenshot by Gabriel Frank It’s clear that new rules for how banks build their balances are coming. But we don’t know when they will come or how substantial the changes will be. The updates to the Basel III international capital rules, called the Basel III Endgame, were proposed by federal bank regulators—the Office of the Comptroller of the Currency, the FDIC and the Federal Reserve—one year ago. The aim of the new rules is to strengthen the banking system by…
If you don’t have a great credit score or a high-paying job, applying for a mortgage can feel intimidating or like a waste of time. To qualify for a mortgage, lenders ideally want to see that you meet the following criteria: Good credit A low debt-to-income ratio (how much of your income you can put towards monthly debt payments) Enough income to cover your mortgage payments each month A job that provides a steady, predictable income The higher your credit score, income, and debt levels, the more likely you are to be approved and the better the interest rate and…
Is anyone else seeing those sensational, “yellow journalistic” headlines saying that real estate is plummeting? Think again. The American Enterprise Institute’s (AEI) latest housing market analysis echoes what NAR’s numbers show, Case-Shiller’s numbers show, and the FHFA’s numbers show: A notable 6.5 percent national annual appreciation rate, despite the backdrop of high mortgage rates. The Sun Belt states, like Florida and Texas, lead in home price gains. I’ll admit that it is hard to know what to believe, because yesterday we learned that the NAHB Housing Market Index fell again in July to the lowest level since last December. I…
Real estate major DLF is focusing on expansion into developing residential and commercial projects and will enter new markets in Mumbai and Goa to capitalize on growth opportunities, its chairman Rajiv Singh said. Real estate major DLF is focused on expanding into developing residential and commercial projects and entering new markets of Mumbai and Goa (representative photo) {{^userSubscribed}} {{/userSubscribed}} {{^userSubscribed}} {{/userSubscribed}} In a message to shareholders in the annual report, Singh said the company remains focused on corporate governance, operational excellence and upholding its founders' values. Explore Crickit, your go-to platform to watch matches anytime, anywhere, click here. Also read:…
This post originally appeared on MDL Group's blog and has been republished with permission. Learn how to syndicate your content on theBrokerList. Welcome to our blog series where we answer our clients' most burning questions about commercial real estate. In this article, we'll discuss four important documents frequently used in commercial real estate transactions: the Letter of Intent (LOI), Lease Agreement, Purchase and Sale Agreement (PSA), and Request for Proposal (RFP). Understanding these documents and when to use them is essential to effectively navigate a commercial real estate transaction.Letter of Intent (LOI)A Letter of Intent (LOI) is a preliminary document…
Mortgage applications rose a seasonally adjusted 3.9% in the week ended July 12, mainly as borrowers took advantage of lower interest rates to refinance their mortgages, according to data released Wednesday by the Mortgage Bankers Association. “Mortgage rates fell last week as recent signs of slowing inflation and the growing likelihood of a rate cut by the Federal Reserve later this year pushed rates lower,” Joel Kang, MBA vice dean and associate chief economist, said in a statement. On the inflation front, the latest Consumer Price Index (CPI) fell 0.1% from May to June, but rose 3% on an annualized…
Economists predict Bank of Canada will cut interest rates after inflation falls | Benefits and Pension Monitor Industry News The drop in inflation in June is buoying expectations that the Bank of Canada will cut interest rates again. According to BNN Bloomberg, economists have suggested that the recent decline in domestic inflation could lead the Bank of Canada to cut its benchmark interest rate for a second consecutive time at its next meeting. Statistics Canada said Tuesday that Canada's annual inflation rate fell to 2.7 percent in June, down from 2.9 percent in May. The agency attributed the slowdown primarily…
Loretta Mester served as president of the Cleveland Fed for 10 years before retiring on June 30 after a career in the Federal Reserve System.by By Christopher Ruger AP Economics ReporterJuly 17, 2024, 10:28 AM• 4 min readWASHINGTON — Loretta Mester has spent her entire career on the Federal Reserve Board, serving as president of the Cleveland Fed for 10 years until her June 30 retirement.For much of her time on the Fed's interest-rate setting committee, Mester tended to favor relatively high interest rates to tame inflation, a stance that earned her the label “hawk,” a term used to describe…
WASHINGTON (AP) — Loretta Mester has spent her entire career on the Federal Reserve Board, serving as president of the Cleveland Fed for 10 years before retiring on June 30.For much of her time on the Fed's rate-setting committee, Ms. Mester tended to favor relatively high interest rates to tame inflation, a stance that earned her the label “hawk,” the official term for officials most concerned about tame inflation. (By contrast, “doves” tend to focus on keeping interest rates low to maximize employment.)But in a recent interview, Mester reiterated her belief that the Fed should cut rates this year if…