Fed raises interest rate by half a percentage point to fight inflation (CNBC)
Fed officials moved more aggressively in an effort to combat inflation on Wednesday with a .5% interest rate hike, in line with market expectations
The half-point hike is the first time the Fed has raised its rate by more than a quarter of a percentage point in 22 years.
Fed Chairman Jerome Powell underlined the commitment to bringing inflation down but indicated that raising rates by 75 basis points at a time “is not something the committee is actively considering.”
10-year Treasury yield surges to 3.09%, hitting highest level since 2018 (CNBC)
The yield on the benchmark 10-year Treasury note rose more than 17 basis points to 3.09% at roughly 11:15 a.m. ET, hitting its highest level since 2018.
On Thursday, weekly jobless claim numbers came in slightly higher than expected. A labor productivity reading for the first quarter showed the fastest decline since 1947.
$1,729,000 Acquisition Financing of a Self-Storage Portfolio in Lubbock, Texas.
FINANCED Lubbock Self-Storage
Lender Type:Bank City:Lubbock, Texas Size:392 Units Term:5-year term; 24 months of interest only; 30-year amortization
Grady Seldin of PSRS arranged $1,729,000 in acquisition financing for a portfolio of three self-storage facilities located in Lubbock, Texas. This storage portfolio is comprised of 392 units sitting on 3.63 acres with an occupancy rate of 92%. Financed with bank execution, PSRS was able to provide for its borrower a 5-year term with 24 months of interest-only followed by a 30-year amortization, which allows the borrower flexibility to complete their light value add business strategy.
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