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Newsfeed: NAR Warns Rising Mortgage Rates “Will Be Problematic” As US Existing Home Sales Unexpectedly Soar In Jan

Newsfeed: NAR Warns Rising Mortgage Rates “Will Be Problematic” As US Existing Home Sales Unexpectedly Soar In Jan

After December’s unexpected tumble, analysts expected existing home sales to continue to slow (-1.3% MoM) in January as mortgage rates rose, omicron hit, and homebuilder sentiment began to slow (catching down to homebuyer’s record low confidence). However, despite the soaring rates and slumping confidence, NAR expects us to eblieve that sales exploded 6.7% higher MoM (a massive beat, even more so given that December was revised slightly better)…

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Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For .8 Billion

Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For $5.8 Billion

Wall Street won’t rest until it become the biggest – and perhaps only – landlord in the US. On Wednesday, Blackstone cemented its position as America’s largest residential and commercial landlord by buying apartment owner Preferred Apartment Communities in a deal valued at $5.8 billion, demonstrating the unstoppable investor demand for multifamily – i.e., rental – properties in Sunbelt states.

Newsfeed: America’s Largest Landlord Just Got Even Bigger: Blackstone Buys 12,000 Sunbelt Apartments For $5.8 Billion Read More »

Newsfeed: U.S Mortgage Rates Surge After a Steady 3-Weeks

Newsfeed: U.S Mortgage Rates Surge After a Steady 3-Weeks

Mortgage rates were on the move in the 2nd week of February, after barely shifting for 3 consecutive weeks. In the week ending 10th February, 30-year fixed rates jumped by 14 basis points to 3.69%. 30-year fixed rates had remained unchanged at 3.55% in the week prior. As a result, 30-year fixed rates held above the 3% mark for a 13th consecutive week.

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Newsfeed: On-Time Rent Payments Sag amid Massive Spike in Rents

Newsfeed: On-Time Rent Payments Sag amid Massive Spike in Rents

How have on-time rent collections been doing in this era of spiking rents? Across the 100 largest markets in the US, in multifamily buildings the median asking rent for one-bedroom apartments jumped by 12% year-over-year. The median asking rent for two-bedroom rents jumped by 14%. In 34 cities, asking rents spiked by 15% to 28% year-over-year.

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Newsfeed: Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982

Newsfeed: Inflation surges 7.5% on an annual basis, even more than expected and highest since 1982

Consumer prices surged more than expected over the past 12 months, indicating a worsening outlook for inflation and cementing the likelihood of substantial interest rate hikes this year. The consumer price index for January, which measures the costs of dozens of everyday consumer goods, rose 7.5% compared with a year ago, the Labor Department reported Thursday.

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