Today’s post is written by Michael Green, Senior Commercial Loan Originator with Counsel Mortgage Group, LLC.  Mike writes monthly on the commercial mortgage market.  Check back each month for his commentary.   

That’s the pulse of the market folks.  Borrowers and lenders all huddled around their computers waiting for Santa Powell and the FOMC elves to deliver their Sept. rate cut on Sept. 18. 

Lenders have created their list of qualified borrowers and properties, and borrowers have corralled their favorite lenders.  Just a few more weeks … patience, patience! 

Maybe too much drama, but you get the point, and from my desk, not too much overstated. 

Just a few months ago when some early labor statistics started to show cracks in the armor of the economy, early (call them aggressive) readers of tea leaves started to forecast ½ point drop from the July or August FOMC meeting.  Then, over the last few months more joined this chorus.  Then just last month the Sahm Rule verified the recession to come. (More on the Sahm Rule in our next Counsel Comments.)  Now, even our friends at Wells Fargo are calling for a ½ point drop in Sept. 

So, are you lined up?  The horses are at the gate!  Oh, but wait.  I almost overlooked the black swan circling – the election!  Many of the decisions to pull the trigger will hang-fire, I suspect, on this event … and many won’t!! 

If you’d like some discussion about the various scenarios and related outcomes, give us a call.  

And if you’d like a more detailed monthly update of the market and things that matter, and don’t already get our complimentary Counsel Comments, contact our office to be added to our list of subscribers. 

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