Almond Terrace Apartments is a 46 unit project out of Ceres, CA. The 223(f) amounted to $6,302,400 and was closed on 11/20/2020 by Sunny Fitzgerald.
The optimism over vaccines continues to influence the markets. The latest tests from AstraZeneca provide a potential third viable vaccine solution. Based on this, equities are marginally higher today.
PROJECT OVERVIEW
Martin Tower Apartments is a 86 unit project out of Sioux City, IA.
The 223(f) amounted to $5,952,000.
The loan was closed on 10/30/2020 by Michael McCullough
Martin Tower Apartments is a 86 unit project out of Sioux City, IA.
The 223(f) amounted to $5,952,000.
The loan was closed on 10/30/2020 by Michael McCullough
Over the weekend the election was called in favor of President-Elect Joe Biden ending a heated campaign season. Eliminating political uncertainty along with Pfizer having 90% success with a Covid-19 vaccine has buoyed the equity markets worldwide to new highs. With so much upside in stocks, money has flowed out of treasuries causing rates to spike.
The Centennial Mortgage, Inc. (CMI) team is pleased to celebrate the Service Anniversary for Brian Lorenz. Brian Started with CMI in November of 2014 as a junior underwriter.
10 year treasury rates opened this morning at .84%. Although this is down 4 basis points from Friday, it is .20% higher than September. The uncertainty surrounding the election will most likely cause volatility until a winner is confirmed.
Continued political uncertainty related to a stimulus package before the elections is dragging the stock market lower and treasury yields higher.
Mr. Watkins has over 24 years of experience working in the commercial real estate industry. He is a seasoned affordable housing professional/HUD loan originator with a background underwriting loans with LIHTC, Tax-Exempt Bonds and other public and private loan and grant resources while working with the Illinois Housing Development Authority (IHDA).
Politics are front and center this week as the Republicans and Democrats discuss further stimulus before the Tuesday, October 20, 2020 deadline imposed by House Speaker Pelosi. The stimulus is broadly believed to be necessary to avert a severe downturn in the economy. The current 10 year treasury is at .77%.
The USDA has announced that “to continue to meet the increasing demand for safe and affordable multifamily rental housing in rural America, Multifamily Housing (MFH) Leadership has reorganized MFH programs into an integrated model with specialized teams.”
The 10 year US Treasury rate fell on news that Johnson & Johnson have stopped trials of their Covid vaccine due to a patients illness. In addition, a stimulus package looks increasingly unlikely to pass before the election which will drag on the current recovery.
Centennial Mortgage, Inc. (CMI) is proud to be an independent, privately-owned FHA Lender. Our small team is able to stay focused on our core business and we pride ourselves on the level of customer service we are able to provide. CMI is also pleased to be closely associated with other like-minded businesses that help us remain independent. This month, we are focusing on Network Computer Service, Inc. (NCSi). This company provides CMI with IT services. Please see below for a statement written by NCSi.
