Understanding Today’s Connected Borrower

Sign up for this webinar to learn how to transform the borrower journey from transaction to relationship and gain a significant lift in production in today’s digital lending environment.

The unique challenges facing minority first-time homebuyers

In this episode, we interview Timothy Demry, a real estate agent in San Francisco’s Bay Area, about his experience serving minority first-time homebuyers.

How modernized servicing creates customers for life

Servicers must be powered by nimble technology to be heroes to borrowers, stalwarts to investors, and stewards of consumer protection to regulators.

Savvy lenders are already preparing for the next valley – Here’s how

Despite increased rate of tech adoption, the industry still has room for continued tech development and usage. Read here to learn more about key technologies that lenders need to give more attention to.

Real Estate

Multifamily rents gain 3.2%

Occupancy has also been doing well

Multifamily rent growth remained positive in October, a new report from YardiMatrix said.

Multifamily rent increased by just $1, to $1,476. Year over year rent growth remained at 3.2%.

(Image courtesy of RentCafe. Click to enlarge.)

Of the 30 major markets covered in the report, 17 saw year-over-year rent growth of at least 3.3%. San Jose and Houston remained below the 2.5% long-term average.

Although the multifamily market boasts positive results, three states had bills passed to limit rent growth.

Rent control affects the multifamily sector because it puts a chill on development during a period of low housing stock, YardiMatrix said.

Although rent has topped historical growth levels, occupancy rates still remain strong.

According to RealPage, this year was the second-highest apartment leasing season ever, with 281,800 units rented. The highest leasing season was in 1997 during the tech boom.

In the third quarter this year, multifamily vacancies fell to 3.6%.

RentCafe found that in the 260 large cities it analyzed, 1% of them experienced a decrease in apartment rates since last month and 4% have seen increases, while monthly rents generally flatlined in the remaining 95%.

Essentially, renting in 65% of the cities are below the national average, while the remaining 35% are above $1,476, RentCafe said.

Latest Articles

Fannie Mae celebrates Single-Family Green MBS milestone

A year after issuing its first Single-Family “Green” MBS on Earth Day 2020, Fannie Mae has now completed 25 transactions for the program, totaling $167 million in bonds backed by mortgages on newly constructed, energy-efficient homes.

Apr 22, 2021 By
3d rendering of a row of luxury townhouses along a street

Log In

Forgot Password?

Don't have an account? Please