The outlines of apartment complex woes painted over the past year are now being clarified by the data.The chart shows that the problem extends beyond high-value players who are squeezed by floating-rate loans.Apartment transactions that were delinquent or in special administration and funded with commercial mortgage-backed securities rose 185% in late June compared to January, according to a report by CRED iQ. “We've seen a surge in multifamily housing since the beginning of the year,” said report author Mike Haas. The surge marked the largest increase in commercial real estate assets during the period.The data shows that deterioration of multifamily…
Author: Private Lending Agent
In the article This article is brought to you by ATM Investors. Please read our editorial guidelines for more information. Maybe you're looking to diversify your investment portfolio, or maybe you've looked into real estate investing but realized you don't have the time or energy it requires. Real estate investing is rarely truly passive and is not immune to issues like reduced cash flow during periods when you don't have tenants. Whether you’re a seasoned real estate investor looking for an additional source of income or you’re looking for a less hassle but still profitable opportunity, these are the top…
JPMorgan Chase & Co. Chief Executive Jamie Dimon warned that inflation and interest rates could remain higher for longer than expected, despite the three largest U.S. banks reporting strong quarterly earnings. “While there has been some progress in reducing inflation, there are still multiple drivers of inflation, including large budget deficits, infrastructure needs, trade restructuring and global rearmament,” Dimon said. “As a result, inflation and interest rates may remain higher than markets expect.” Inflation slowed to its first slowdown in four years in June, a welcome change that many expect will prompt Federal Reserve Chairman Jerome Powell, who has signaled…
National Average of Lender's Best Rates – Refinance Loan Type Refinance Rate Daily Change 30-Year Fixed 6.87% -0.09 FHA 30-Year Fixed 6.51% -0.09 VA 30-Year Fixed 6.02% -0.12 20-Year Fixed 6.64% -0.12 15-Year Fixed 5.91% +0.03 FHA 15-Year Fixed 6.06% -0.27 10-Year Fixed 7.44% -0.01 7/6 ARM 7.47% +0.04 5/6 ARM 7.57% -0.04 Jumbo 30-Year Fixed 7.10% +0.02 Jumbo 15-Year Fixed 6.84% +0.13 Jumbo 7/6 ARM 7.97% No Change Jumbo 5/6 ARM7.80% -0.01 Provided via Zillow Mortgage API Use our mortgage calculator to calculate monthly payments for various loan scenarios. Our published rates are not directly comparable to teaser rates…
The post-pandemic housing slump hasn't gone away. “Homebuyers are heading into 2024 with optimism,” the Associated Press reported. But mortgage rates remain high and are expected to remain so as “better-than-expected inflation data” clouded the possibility of the Federal Reserve lowering interest rates. It's not just mortgage costs that are the problem: the supply of homes for sale is “historically low,” while prices are at “all-time highs.” Buyers can't buy, and sellers won't sell. No one is happy.This combination of factors means the housing market “is poised to be a major drag on the economy heading into the election,” Politico…
The mortgage market is undergoing a gradual transformation as it adjusts to a prolonged period of high interest rates. This transformation has seen a wave of rising mortgage rates upend the market environment, particularly as the pool of homeowners with mortgage rates below 5 percent is shrinking, according to the July ICE Mortgage Monitor report. That means only 76% of homeowners have mortgages with interest rates below 5%, up from a much larger 90% just two years ago. According to the ICE study, starting in 2022, 4 million mortgage borrowers will have mortgages with interest rates above 6.5%, including 2…
It's time for the 2024 Midyear Market Update. What's really going on with home prices? Despite rising interest rates, home prices are still rising and buyers are facing fierce competition. Why are prices soaring and why is a lack of supply driving the market? Find out about the latest trends and what they mean for you in Terry's latest video update. To see all home sales figures for the Northern Virginia area and our hyper local area, please visit the link at the bottom of the page. Northern Virginia 2024 June/Q2 Home Sales: • 2,879 homes were under contract in…
According to the latest data from mortgage technology and data company Optimal Blue, the current average interest rate for a fixed-rate 30-year conforming mortgage in the U.S. is 6.757%. Read on to learn about the average interest rates for different types of mortgages and how current rates compare to the previous day's last reported rates. Mortgage TypeCurrent RateLast Reported Rate30 Year Conforming6.757%6.881%30 Year Jumbo7.152%7.132%30 Year FHA6.573%6.694%30 Year VA6.302%6.392%30 Year USDA6.556%6.707%15 Year Conforming6.194%6.197%30 Year Conforming6.757%6.881%30 Year Jumbo7.152%7.132%30 Year FHA6.573%6.694%30 Year VA6.302%6.392%30 Year USDA6.556%6.707%15 Year Conforming6.194%6.197% Historical mortgage interest rate chart Here's a comparison of current average mortgage rates we're tracking versus…
NEW YORK (AP) — JPMorgan Chase & Co.'s profits soared in the second quarter as the bank liquidated billions of dollars in its stake in Visa Inc. But the bank's results were also buoyed by consumers' continued willingness to spend despite rising interest rates and geopolitical and economic uncertainty.The nation's largest bank by assets reported profits of $18.15 billion on Friday, up 25 percent from a year ago. Earnings per share of $6.12 beat analyst expectations.A big part of JPMorgan's performance was a $7.9 billion gain on its Visa shares, as the bank converted its stake in the payment processing…
Dan Vasquez // Photo: Trevor LongDan Vasquez's rise to lead the future of artificial intelligence (AI) at Rocket Mortgage began when his uncle and mentor, David Vasquez, quit his CPA job and turned his computer programming hobby into a full-time job.At the time, Vasquez was 12 years old and spent a lot of time with his uncle who lived two blocks away.”In the 1990s, if you needed anything computer-related and you had a small business, you would call my uncle,” Vasquez recalls. “He ran his own consulting business and was one of the pioneers of working from home.”When Vasquez was…