By: Erik Edwards, Director, Wells Fargo Multifamily Capital
So much has transpired in recent weeks that it has been enough to give both lenders and borrowers whiplash. Back in June and July, the lending and financial markets were stable. The 10-year Treasury yield appeared to have bottomed out in the low 2.0% range (down significantly from the 3.24% high in November 2018) and interest rate loan spreads held steady, resulting in attractive and predictable all-in interest rates. Many borrowers decided it was a good time to refinance, and lending activity picked up steam. But from early August through mid-September, several unpredictable developments took place, a few of which will likely impact residential and commercial real estate lending for years to come.
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For More Information: Tony Petosa, Nick Bertino, and Erik Edwards of Wells Fargo Multifamily Capital specialize in providing financing for MHCs through Fannie Mae, Freddie Mac, conduit, and balance sheet lending programs. For more information or for a copy of their ”Manufactured Home Community Financing Handbook,” please contact: Tony at (760) 438-2153 or firstname.lastname@example.org; Nick at (760)438-2692 or email@example.com; Erik at (760) 918-2875 or firstname.lastname@example.org; or visitwww.wellsfargo.com/mhc.