Wednesday, April 11, 2012

Housing News Digest, April 11

Summit County families struggling to get by
While much of this year's data concerning children's health and well-being in Summit County is similar to last, there was an increase in the number of children living in poverty, and those belonging to families relying on assistance such as free-and-reduced lunch at school.

Colorado State University Refunding $88 Million
DALLAS — The Colorado State University System is going to the bond market for the second time this year with an $87.7 million refunding that includes taxable and tax-exempt debt.

In February, the CSU Board of Regents issued $126 million for expansion projects on the Fort Collins and Pueblo campuses.

The deal, which expected to price this week, is designed for interest-rate savings.

The issue will offer investors $82.4 million of tax-exempt system revenue bonds and $5.3 million of taxable bonds.

VA Awards More Than $2.4 Million to Colorado Veterans Home
WASHINGTON, Apr 11, 2012 (BUSINESS WIRE) -- The Department of Veterans Affairs is awarding more than $2.4 million to make improvements, including energy conservation measures, to the Colorado State Veterans Home at Rifle.

“Our federal-state partnership ensures that comfortable and safe housing is provided in a caring community for Colorado Veterans who have served their country,” said Secretary of Veterans Affairs Eric K. Shinseki.

Pulte, Lennar jump as survey shows housing rebound
NEW YORK (MarketWatch) — Shares of U.S. homebuilders rallied on Wednesday after a Wells Fargo analyst’s research report said data from 20 select markets nationwide are showing strength across the board.

“For the third consecutive month, our survey points to an improvement in orders suggesting 2012 may be the long-awaited recovery year for housing,” the note said.

Commercial Real Estate CDO Loans Buoyed By Low Rates, For Now
NEW YORK (Dow Jones)--The bulk of loans backing some of the most complex commercial mortgage-backed securities carry below-market interest rates that are buoying performance, but risks lurk when borrowers seek new financing, according to Deutsche Bank.

About 80% of loans in commercial real estate collateralized debt obligations, also known as CRE CDOs, carry floating interest rates that have been held low by their benchmarks in recent years, said Deutsche Bank analysts, led by Harris Trifon. Compared with a fixed-rate loan, debt expense for floating-rate loans has declined at a time when many properties have seen revenue drop.