Insights

Thirty Capital Market Update: JOLTS Numbers Recap

To recap the Thirty Capital Monday Morning Market Call: Last Wednesday’s solid Job Openings and Labor Turnover Survey (JOLTS) numbers (9,553K act. vs. 9,400K est. with a revision of -113K) weren’t enough to support rates as ISM manufacturing came in weak, and the Treasury announced lighter than anticipated upcoming issuance. Chairman Powell delivered a press conference perceived to be less hawkish than prior speeches, accelerating the downward move in rates. Good productivity numbers and weaker jobs numbers on Friday drove ten-year treasury rates almost 30 bps lower on the week. Powell will deliver two speeches this week.

The bid-ask spread persists for both buyers and sellers. Longer-term rates being higher for longer means sellers will need to inject equity into refinances until buyers see a path to asset appreciation.

About Thirty Capital Financial:

Thirty Capital Financial is a leading service provider to the commercial real estate industry. Our team of advisors have spent decades providing solutions for defeasance, interest rate hedging, and debt management. With our personalized approach, we provide you with the tools, solutions, and strategies to confidently manage debt while supporting the growth of your company. Contact us today to speak with an expert defeasance consultant!

IApartments is an enterprise-level smart apartments platform that turns ordinary apartments into intelligent apartments.

IApartment’s technology automates asset protection, access control, and operational efficiencies for multifamily property owners, managers, and their residents.

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After a deep dive in the industry, Rent Ready discovered that the make ready process was disjointed, frustrating, and time-consuming. Onsite staff members were scheduling six different services with six different vendors – creating scheduling nightmares along with unexpected challenges and headaches. As a full-service partner for onsite apartment staff, Rent Ready handles the frustration between the move-out and move-in, as a single-source for all turn services: paint, clean, carpet, wall repair, punch, and counter/tub resurfacing.

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