Currently the surge in Covid-19 cases is being offset by an optimism in vaccines that could end the pandemic. The optimism is gaining traction as the worlds equity markets are up a record 13% in November.
At Centennial Mortgage we are thankful for many things. We have an amazing team of people that work hard every day – both on the job and with their families. May all of you have a safe and Happy Thanksgiving.
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.”
