Morning Briefing: Commercial, multifamily mortgage originations up 12 per cent

by Steve Randall11 Nov 2015
Commercial, multifamily mortgage originations up 12 per cent
Mortgage originations for the commercial and multifamily property sectors were up by 12 per cent in the third quarter compared to the same period in 2014 and 3 per cent higher than in the second quarter of 2015. Figures from the Mortgage Bankers’ Association reveal that a rise in originations for office (up 37 per cent) and retail (up 27 per cent) properties were the driving force behind quarterly increase. "Commercial mortgage borrowing and lending continued to grow during the third quarter," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research.  "Every major investor group and property type except one has seen increases in year-to-date lending volumes, and we expect year-end numbers to continue that trend.”
 
Dip for Carolina home sales in October but year-to-date is up
Home sales through the Carolina MLS system decreased 3.9 per cent in October, with 3,073 properties sold, compared to 3,198 properties sold in October 2014. Sales are down 10.6 per cent compared to September 2015 but year-to-date sales are up 13 per cent with 34,595 properties sold over the past 10 months. The Charlotte Regional Realtor Association says that average sales prices were 4.4 per cent higher than a year earlier at $237,646 and the median sales prices was up 3.9 per cent year-over-year to $185,000. New residential listings were down 3.1 per cent and the inventory was 21.6 per cent lower than October 2014.
 
Amy Schumer selling New York apartment
Comedian Amy Schumer has listed her apartment in Manhattan for $2.075 according to Zillow. The 1 bedroom, 1.5 bathroom home sits on the top of the 5-unit co-op not far from Central Park and boasts a private rooftop oasis. Nick Gavin and Josh Doyle of Compass are the listing agents.
 

COMMENTS

Poll

Is TILA-RESPA a good or bad thing long term?