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Freddie Mac Multifamily Examines the Impact of the End of Eviction Moratoriums on Renters

Originally published on June 30, 2021 for Freddie Mac.

A new white paper pdf from Freddie Mac (OTCQB: FMCC) Multifamily studies the impact of the end of eviction moratoriums and role of rental assistance as the nation recovers from the economic impact of COVID-19. As eviction moratoriums and renter protections lapse, Freddie Mac is encouraging renters and property owners to proactively understand and seek available rental assistance to help mitigate the remaining economic challenges as the country emerges from the pandemic.

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FHFA Announces New Refinance Option for Low-Income Families with Enterprise-Backed Mortgages

Originally published on April 28, 2021, by the Federal Housing Finance Agency.

​​​​​​Washington, D.C. – The Federal Housing Finance Agency (FHFA) announced today Fannie Mae and Freddie Mac (the Enterprises) will implement a new refinance option for low-income borrowers with Enterprise-backed single-family mortgages. Eligible borrowers will benefit from a reduced interest rate and lower monthly payment. FHFA estimates that borrowers who take advantage of the new refinance option could save an average of between $100 and $250 a month.  

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East Coast and Illinois Face Biggest COVID-related Housing Risks: Data Shows

Originally published on April 22, 2021, by ATTOM Staff for ATTOM Data Solutions Blog.

IRVINE, Calif. — Apr. 22, 2021 — ATTOM Data Solutions, curator of the nation’s premier property database, today released its first-quarter 2021 Special Coronavirus Report spotlighting county-level housing markets around the United States that are more or less vulnerable to the impact of the Coronavirus pandemic that continues to impact the U.S. economy. The report shows that states along the East Coast, as well as Illinois, were most at risk in the first quarter of 2021 – with clusters in the New York City, Chicago and southern Florida areas – while the West continued to face less risk.

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Consumer Confidence Surged in March, Survey Reveals

Originally published on March 30, 2021, by The Conference Board.

Consumer Confidence Survey®

The Consumer Confidence Survey® reflects prevailing business conditions and likely developments for the months ahead. This monthly report details consumer attitude, buying intentions, vacation plans and consumer expectation for inflation, stock prices and interest rates. Data are data available by age, income, region and top 8 states.

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Housing Insights: COVID-19 Led First-Time Homebuyers to Move Away from Highly Dense City Centers

Originally published on March 30, 2021, by Rebecca Meeker and Nuno Mota for Fannie Mae.

As the COVID-19 pandemic swept across the country in 2020, it touched nearly every aspect of the U.S. economy. In the housing market, new listings, home sales, and residential construction all plummeted in the spring of 2020. In the following months, however, the housing market proved resilient, with home sales and new construction reaching decade highs amid historically low mortgage rates.

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Risk of Flood Damage to Homes to Reach $32B by 2051: Report

Originally published by Kate Duguid for Reuters.com on February 22, 2021. 

Rising sea levels and extreme weather could cause $20 billion of flood damage to at-risk U.S. homes this year, rising to $32 billion by 2051, according to research from New York-based flood research non-profit First Street Foundation published on Monday.

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Rising Lumber Costs Put Damper on Single-family Housing Starts in January: NAHB

Originally published on February 18, 2021, for the National Association of Home Builders.

Housing production softened in January as rising lumber prices continue to affect the housing industry. Overall housing starts decreased 6.0% to a seasonally adjusted annual rate of 1.58 million units, according to a report from the U.S. Department of Housing and Urban Development and the U.S. Census Bureau.

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Commercial Deals, Rent Relief Requests on the Rise: NAIOP

In NAIOP’s sixth monthly survey tracking the effects of the pandemic on the commercial real estate industry, respondents reported continued gradual improvement in deal activity, but also reported more tenants seeking rent relief, particularly in the office sector. 

The survey was completed by 203 NAIOP members between September 15 - 18, 2020. Respondents represent a range of professions, including developers, building owners, building managers, brokers, lenders and investors.

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Multifamily Buildings Getting Bigger, Middle of the Market is Missing: Census Bureau

Last year, developers in the U.S. completed 211,000 new housing units in buildings of 50 units or more, the biggest number on record. The total number of new apartments constructed didn’t come close to setting any records, though.

These numbers are from Characteristics of New Housing, an annual Census Bureau data release that is so chock-full of interesting information (for example: 88% of apartments completed in 2018 had in-unit laundry facilities) that I briefly contemplated interrupting my vacation to write about it when it came out two weeks ago. I resisted then, but now I’m back at my desk and the new numbers don’t seem to have gotten much attention. They should!

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Cap Rates to Remain Steady Through June, Experts Predict

By Kerry Curry

With late 2018 jitters gone and investor optimism returning, the commercial real estate market should experience mostly steady cap rates through the first half of 2019, although there are particular market segments and geographies that could experience some bumps.

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Multifamily Market Expected to Stay Strong, Research Reveals

By Tim Wang and Julia Laumont

A major and unprecedented structural shift has occurred in the real estate market due to a variety of demographic and socioeconomic factors. Occupied U.S. rental apartment units rose by 20 percent above the prior 10-year period. Real estate investment managers’ allocations to institutional-quality multifamily product have risen on the ongoing strength in property fundamentals.

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Commercial, Multifamily Originations Expected to Remain Favorable this Year: MBA

By Adam Descanctis

Steady commercial real estate markets, along with equity and debt availability, are expected to keep commercial and multifamily mortgage originations roughly on par with the volumes seen the past two years, according to the Mortgage Bankers Association's 2019 Commercial/Multifamily Real Estate Finance Forecast, released here today at the 2019 Commercial Real Estate Finance/Multifamily Housing Convention & Expo.

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Incentive Programs Benefit Multifamily, CRE in Urban Areas, State Agencies Say

By Andrea Riquier

Commercial real estate in large urban areas will be the big winner from the tax scheme aimed at boosting investment in needy areas, according to an analysis released in November.

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MBA Data Shows Multifamily Lending Reached New Record High Last Year

Strong market conditions helped fuel a 6 percent increase in multifamily lending in 2017 as lenders provided a record high $285 billion in new mortgages for apartment buildings with five or more units, the Mortgage Bankers Association reported today.

"The multifamily lending market in 2017 benefited from improving fundamentals, rising property values and low interest rates," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "The result was larger loan sizes and record levels of overall borrowing and lending."

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Confidence in Multifamily Market Drops, But Stays Positive, NAHB Finds

Confidence in the multifamily housing market edged down in the second quarter of 2018, according to the Multifamily Production Index (MPI) released today by the National Association of Home Builders (NAHB). The MPI dipped two points to 51 compared to the previous quarter.

The MPI measures builder and developer sentiment about current conditions in the apartment and condo market on a scale of 0 to 100. The index and all of its components are scaled so that a number above 50 indicates that more respondents report conditions are improving than report conditions are getting worse.

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