By Rob Chrisman
Posted To: Pipeline Press
Although the focus of this 6-day a week commentary is residential, it is good to have an awareness of commercial lending – especially as it competes at some banks with residential lending in terms of portfolio usage. Throughout the early 2000s, commercial and multifamily property prices and mortgage debt outstanding grew alongside one another. From January 2001 to November 2007, apartment property prices rose 82% and mortgage debt outstanding rose 91%. Then in 2008, property prices significantly decreased (a 40% drop in property values). Since the beginning of 2010, apartment property prices have grown 92% and multifamily mortgage debt outstanding has increased 19%. Commercial and multifamily property values have risen 68% and mortgage debt outstanding has grown by 6%. LOs out there are well…(read more)
Via:: Settlement Agent Poll; Fannie & Freddie Continue to be Discussed; Apps Continue Downward
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