Jan
06

Key Real Estate Trend for 2009: Refinancing

By
– Real Estate Channel

Refinancing will be the name of the game in 2009 for most real estate deals.

“Since the market remains illiquid with sellers and buyers quite far apart on bid-ask sale negotiations, refinancing is the only option for generating significant loan volume,” predicts Nat Zvislo, Research Director for The Real Estate Capital Institute in Chicago.

Fannie Mae and Freddie Mac will be the major players in the refinancing rush.

They “overwhelmingly dominate the multifamily lending arena, which is the most active property-funding sector” today, says Zvislo.

The two agencies offer rates starting below 6% for shorter-term maturities and below 5% for floating-rate debt.

Life insurance companies and banks dominate all other income-property sectors with rates relatively unchanged from the previous month — hovering in the 6%-plus range for five-year term and 7% or more for longer-term loans.

ARTICLE SHORTENED DUE TO LENGTH….

LINK TO ARTICLE HERE:
http://www.realestatechannel.com/us-markets/commercial-real-estate-1/alex-finkelstein-chicago-and-mortgage-rates-and-real-estate-capital-scoreboard-fannie-mae-freddie-mac-nat-zvislo-and-real-estate-news-294.php
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