The Meyers Report: Economic Notes

Commercial Real Estate Lending Lending rates continue to climb. Since April 29th, rates for multi-family lending continue to rise. HUD 223(f) and 221(d)4, now at 4.29% and 4.94%, respectively, are both up by 0.86%-age points Fannie Mae loans have risen even more, generally rising between 1.07%-age and 1.42%-age points. There appears to be little pressure […]

The Meyers Report: Economic Notes

Energy Independence We are working on it. Despite increased government impediments, over the last seven years, our crude oil imports are down 23% and our exports of crude and refined products are up by 230%, according to the US Energy Information Administration. In terms of net imports of all petroleum products, we have gone from […]

The Meyers Report: Economic Notes

Indicative of most other interest rates, the 10-year swap rate rose dramatically this past week. The most significant of the economic releases due this coming week is Thursday’s report on consumer spending and income in May. Although the numbers are almost a month old, they represent the most comprehensive view of consumers’ behavior. We the […]

Meyers Report: Economic Notes

There wasn’t much in the way of significant economic news last week. What little there was turned out better than expected. Retail sales were reported to be up at almost a 7% annual rate in May. The gain helped to offset some previously very weak numbers. After the latest increase, retail sales are up at roughly a […]

The Meyers Report: Economic Notes

Vehicle sales in May (up 2.5% from April) were equal to the strong pace of the first quarter. Initial unemployment claims for May remained, in the vicinity of 350,000, which were little changed from the last three months. Rasmussen Consumer Confidence Index. The dip we saw a week ago Sunday continued pretty much for the […]

The Meyers Report: Low Interest Rates Going Away?

Investors, if you haven’t dumped your long-term bonds already, do it now. If you are refinancing a commercial loan or a home mortgage, do it now. If you are buying a home, do it now. If you are selling a home, take the deal you are being offered now and don’t haggle. Why? Interest rates […]

The Meyers Report: Economic Notes

Refinancing of SBA Loans Last September the SBA’s ability to provide refinance loans expired. This was a critical issue since so many banks were choosing to not renew loans, even if the loans were performing as agreed in their contracts. As a result, unnecessary pressure was being placed on small businesses even if they were […]

The Meyers Report: Economic Notes

Major Non-Bubble Housing MarketsSeptember, 2012 – February 2013 Monthly Price Changes (Middle Tier – $150-$270K) Sept. Oct. Nov. Dec. Jan. Feb. Atlanta 1.69% 0.96% 0.95% 1.06% 1.51% 1.47% Boston -0.41% -1.51% 0.12% -0.57% 0.29% -0.08% Chicago -0.24% -0.56% -0.31% 0.71% -1.34% -0.89% Denver 0.49% 0.48% 0.46% -0.15% -0.48% 0.27% Minneapolis 1.40% -0.18% -0.41% 0.49% -0.55% […]

The Meyers Report: Economic Notes – Commercial Real Estate Lending

Multi-family (M-F) lending rates continue to be mixed. HUD program rates have stabilized for the past three weeks, after several weeks of increases. Since five weeks ago, HUD 223(f) and 221(d)4 construction loans are up only 0.03%- and 0.13%-age points, respectively. However, over the past five weeks, Agency M-F loans continue to fall, with the 30-, 10-, and 7-year term loans […]

The Meyers Report: Commercial Lending

The Fed’s attempt to boost the economy by holding down interest rates has not been successful, in part because of the ongoing stress in the banking system. The stress is from a combination of Dodd-Frank regulations, depressed asset values and a highly erratic Fed policy regarding bank reserves. For the year ending in February, bank […]