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As the commercial real estate market experiences a resurgence in risk appetite and narrowing spreads, active managers like DoubleLine Capital LP face new challenges. According to DoubleLine portfolio manager Morris Chen, the most extreme scenarios in commercial mortgage-backed securities (CMBS) have been priced out since the upheaval of Silicon Valley Bank’s collapse last March. With […]

In the ongoing saga of rising mortgage rates, the 30-year fixed-rate mortgage climbed to 7.17% this week, marking a continued ascent from the previous week’s 7.1%, as reported by Freddie Mac. This surge follows last week’s breach of the 7% threshold, triggered by a government report revealing persistent inflationary pressures. Further exacerbating the situation, daily […]

In the week ending April 19, US mortgage rates surged to their highest level in five months, leading to a decline in home-purchase applications for the fifth time in six weeks. According to data from the Mortgage Bankers Association released on Wednesday, the contract rate on a 30-year fixed mortgage rose by 11 basis points […]

Real estate markets across the U.S. are experiencing a notable divergence, with the luxury sector booming while the rest of the market faces challenges of higher rates and low inventory. Overall real estate sales fell 4% nationwide in the first quarter, yet luxury real estate sales increased more than 2%, marking their best year-over-year gains […]

New York lawmakers recently approved a $237 billion state budget, which includes provisions to stimulate housing construction and address the proliferation of unlicensed marijuana stores. The budget also encompasses various initiatives such as expediting the closure of select state prisons, managing the recent surge in migrants, and extending the pandemic policy of permitting takeout cocktails. […]