Published in GlobeSt.com on Dec. 29, 2023
By Drew H. McCreery, Managing Director, Multifamily
Multifamily investors may have something to look forward to next year, according to recent signals from FHFA, the Federal Reserve, and Freddie Mac. After a sluggish 2023, market experts anticipate increased transaction volume thanks to stabilizing interest rates, among other factors. As activity picks up, new policies enacted over the past year will apply to multifamily transactions. Here’s a rundown of what to expect in 2024.
The Federal Housing Finance Agency (FHFA) announced on Tuesday, November 14th that the 2024 multifamily lending caps for Fannie Mae and Freddie Mac (the Enterprises) will be reduced to $70 billion each, for a total of $140 billion during the calendar year. According to FHFA’s multifamily cap fact sheet, “FHFA anticipates the 2024 cap levels will be appropriate given current market forecasts. However, FHFA will continue to monitor the multifamily mortgage market and increase the caps if necessary. If FHFA determines that the actual size of the 2024 market is smaller than initially projected, FHFA will not reduce the caps.”…
To learn more, read the full article.
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