Been speaking to some bankers lately.... Here are some things we are hearing:
Money for Retail real estate is totally dried up. "They" are expecting 7000 retail shops to close down this year.
Rates for Self Storage Conduit Loans have gone up to 8%. Expecting these to go down in 4th quarter. Interesting considering that you can now get a 6% loan at a local bank. Total flip flop from 2 years ago.
Also, the minimum loan requirement has gone up from 1M to 2M.
There is plenty of money available for multi-family. Rates are still low. The money is flowing for acquisition, rehabs, new construction.
Many bankers believe interest rates will go up after elections. So, if you are getting a lower rate now, they probably won't lock for more than a year.
Money for Retail real estate is totally dried up. "They" are expecting 7000 retail shops to close down this year.
Rates for Self Storage Conduit Loans have gone up to 8%. Expecting these to go down in 4th quarter. Interesting considering that you can now get a 6% loan at a local bank. Total flip flop from 2 years ago.
Also, the minimum loan requirement has gone up from 1M to 2M.
There is plenty of money available for multi-family. Rates are still low. The money is flowing for acquisition, rehabs, new construction.
Many bankers believe interest rates will go up after elections. So, if you are getting a lower rate now, they probably won't lock for more than a year.
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