Distressed commercial loan volumes continue to grow

The pipeline data told a more complex story. Units under construction in centres of 50,000 or more edged up just 0.6% month-over-month to 373,091, while completions rose 8.1% to 19,773 units, evidence that work already in progress is advancing. Yet units with approved permits but not yet started climbed 3% to 141,480, a figure brokers…

Demand for mortgage refinances and home purchases continued to decline last week as mortgage rates rose to the highest level in nearly three years. According to the Mortgage Bankers Association’s seasonally adjusted index, total mortgage application volume fell 4.2% compared with the previous week. According to the MBA, the average contract interest rate for 30-year…

FirstClose™ to MeridianLink® Demo FCS.mp4

Rita Sodi and Jody Williams are adding to their West Village corner.  Three years after moving their acclaimed Tuscan restaurant, I Sodi, to the corner of Bleecker and Grove streets in the West Village, an entity tied to Sodi paid $6.5 million to buy the retail condo at 312-314 Bleecker Street, property records show. They…

By Jeffrey Sparshott (Bloomberg) — U.S. consumer prices advanced in September at the fastest pace in five months and a gauge of underlying price pressures rose by more than expected, keeping the squeeze on household budgets ahead of November’s midterm elections. The consumer price index rose 0.6% from a month earlier, driven by a surge…

“Despite being at the tail end of the construction boom, the market had still been struggling to absorb the swell of new inventory,” Salviati said. “That is now finally changing, as we see multifamily occupancy also hitting an inflection point in tandem with rent growth.” Sun Belt lags as coastal metros lead recovery Not every…