Economic Update – June 14, 2024

Economic Update – June 14, 2024

1. INTEREST RATES • The FOMC voted to leave rates unchanged at its June policy meeting, which aligned with market expectations. On Wednesday, markets braced for the convergence of May’s Consumer Price Index data, which arrived just a few hours before the Federal...

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Economic Update – May 31, 2024

Economic Update – May 31, 2024

1. CRE LOAN MODIFICATIONS RISE AMID HIGH-RATE ENVIRONMENT • According to a new report by Trepp, CMBS loan modifications rose dramatically in 2023 as a significant swell of loans are set to mature in the coming quarters. • Modification volumes peaked mid-year 2023,...

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Economic Update – May 17, 2024

Economic Update – May 17, 2024

1. LARGE FUNDS INCREASE CRE FOOTPRINT • A recent analysis by Reuters details how large funds are increasing their CRE market share as traditional lenders such as banks pull back. • Stricter capital rules for banks and recent regional bank failures in the US have led...

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Economic Update – April 26, 2024

Economic Update – April 26, 2024

1. FIRST-QUARTER GDP • The US economy expanded by a 1.6% annualized rate during the first quarter of 2023, according to the latest data from the US Bureau of Economic Analysis. • First quarter GDP fell short of most estimates. Economists surveyed by Bloomberg, on...

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Economic Update – April 12, 2024

Economic Update – April 12, 2024

1. HOMEBUYERS ADJUSTING TO HIGHER INTEREST RATES • A new survey by Fannie Mae suggests that home buyers are gradually adjusting to higher mortgage rates despite increasingly negative sentiments about the housing market. • Fannie Mae’s Home Purchase Sentiment Index...

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Economic Update – March 29, 2024

Economic Update – March 29, 2024

1. INDUSTRIAL’S LARGEST OPERATORS EXPAND • According to an article by Commercial Observer, Industrial real estate heavyweights Prologis and Link Logistics are leading an ongoing expansion in warehouse use despite recent reports of a post-COVID-boom slow in demand. •...

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