Finance & Mortgage
- Speculation on Fannie Mae and Freddie Mac’s Future Continues
- The American administration has been speculating the future of two famous government-backed mortgage lenders, Fannie Mae and Freddie Mac since 2011. Though the pace at which decisions about the two entities are being made is slow, the government is diligently working on various proposals to determine a new future for the now-profitable lending giants.
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- UK Commercial Property Values Jump in May Ending 18-month Lag
- Commercial property values rose in the U.K. in May marking the end of an 18-month lag in the sector, according to a property index of Investment Property Data, a real estate intelligence firm.
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- US Home Foreclosures Up 11 Percent in May
- Foreclosure activity in the U.S. hiked to reach 11 percent in May, up 2 percent from the figures of April but still down 29 percent from the figures recorded a year ago, according to the data released by real estate intelligence firm, RealtyTrac.com.
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- Home Prices Spike 9.2 Percent in Dubai, Knight Frank Report
- A recent study conducted by famous real estate intelligence firm, Knight Frank found that property prices had spiked 9.2 percent in Dubai in the first quarter of 2013, making it the second-best performing real estate market in the world.
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- Mongolian Central Bank Halving Mortgage Interest Rates
- The Central Bank of Mongolia will slash down mortgage interest rates almost by half to 8 percent from the existing 15 percent in order to support and substantiate growth in the middle-class sector of the country. The rates are expected to come into effect by June 17.
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- Carlyle Group LP Planning to Raise $4 Billion for Seventh Real Estate Fund
- Carlyle Group LP, the famous American private equity firm is reportedly planning to raise $4 billion for its seventh real estate fund. The target, if achieved, would make it the firm’s largest property fund since the financial crisis.
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- U.S. April Construction Spending Increases
- Construction spending in the U.S. increased a little in April on the improved building activity in the private non-residential sector, according to a report analyzed by the Associated General Contractors of America.
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- Gen Y Prefers Energy Efficient Homes
- In a recent consumer preference survey conducted by the National Association of Home Builders (NAHB) it was revealed that if given a chance to own a home, the Gen Y of America would prefer to own a super-energy-efficient home.
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- Rise in Mortgage Rates Deprives Home Owners of Benefits of Refinance
- The rise in mortgage rates over the last few weeks had deprived homeowners the chance to enjoy a refinance and discouraged new home buyers too, just on the onset of many of them gaining equity in their homes and finally becoming eligible for a refinance.
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- Empire State Building IPO Plan Approved; To Be Listed on NYSE
- The long debated and controversial appeal to take the legendary Empire State Building, public has finally received all shareholder votes needed to approve the plan. The building will be listed on the New York Stock Exchange (NYSE), according to a regulatory filing, Wednesday, May 29.
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- Morgan Stanley Hoping to Raise $3 Billion for Global Property Fund
- Morgan Stanley, the international leader in financial services is reportedly gearing up to revive one of its property funds, Morgan Stanley real estate funds (Msref) to take advantage of a strengthening economy and property market. It hopes to raise capital worth $1 to $3 billion from potential investors for the global fund.
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- American Realty Buying CapLease for $2.2 Billion
- American Realty Capital Properties (ARCP), a popular Real Estate Investment Trust (REIT) has agreed to purchase CapLease Inc, another REIT for $2.2 Billion, including debt, according to several reports.
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- Judge Dismisses Candy Spelling Eviction Lawsuit
- Candy Spelling, widow of TV mogul Aaron Spelling can remain in her leased condo at the Carlyle Building in Westwood, California as a court Judge has dismissed her landlord’s plea to evict her from the premises of the condo.
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- Empire State Building IPO Plan on the Verge of Shareholder Approval
- The controversial move of taking the historic Empire State Building public is almost on the verge of gaining majority approval from shareholders, as 79.6 percent of unit-holders have voted for the plan.
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- US Mortgage Rates Rise in May but Still Remain at Historic Lows
- The average U.S. borrowing rate for housing loans rose to reach new highs in May. However, rates remain at historical lows when compared on a year on year basis since 1971.
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