Economy
From interest rates to inflation, understand the impact of macroeconomic trends on the real estate capital markets.
The Beyond Insights series aims to deliver timely economic and market-driven insights to better inform your commercial real estate investment decisions.
Markets
From local market rents to cap rates, catch up on the latest capital markets insights.
Learn moreU.S. ECONOMIC MACRO COMMENTARY & INSIGHTS
The Missing Dot
- The Federal Reserve held rates steady, but the June meeting delivered a meaningfully more hawkish signal than markets expected.
- Updated projections showed higher inflation, slower growth, and a committee increasingly open to the idea of a 25 bp hike by year end.
- The Fed also signaled a shift away from forward guidance, giving markets less of a roadmap and placing greater emphasis on incoming data.
Everyone will focus on the missing dot. The market sold off because of the nine that remained. Half the committee is now willing to discuss another rate hike this year, and that is a very different conversation than the one markets were having just a few months ago. Inflation forecasts moved higher, growth forecasts moved lower, and the Fed made clear that inflation remains the bigger concern.
6.17.2026 FOMC DOT PLOT
2026 Multifamily Investor Sentiment Survey
In December 2025, we surveyed over 250 of our trusted clients from various companies, with most holding senior-level titles, for our second annual Multifamily Investor Sentiment Survey. Our goal is to provide a comprehensive view of current market sentiments to our clients, and we plan to share our findings in our detailed report.
2026 Multifamily
Powerhouse Poll
In Berkadia’s Annual Multifamily Powerhouse Poll, we surveyed over 200 investment sales advisors and mortgage bankers to offer their unique perspectives on the state of the commercial real estate (CRE) industry.
FHFA Increases Multifamily Loan Purchase Caps and Continues to Focus on Mission-Driven Housing in 2026
Today, the Federal Housing Finance Agency (FHFA) announced the 2026 multifamily loan purchase caps for Fannie Mae and Freddie Mac will increase to $88 billion each for a total of $176 billion, up from $146 billion this year. Both Freddie Mac and Fannie Mae remain focused on mission-driven housing with an eye toward affordability, access,…
U.S. Government Shutdown Ends – Future of Monetary Policy Still Murky
On Thursday, President Donald Trump signed legislation to re-open the U.S. government after a 43-day shutdown, the longest in our nation’s history. The shutdown caused a real impact on the U.S. economy—the Congressional Budget Office projected that the shutdown would lower real Gross Domestic Product (GDP) growth in the current quarter by 1.5 percentage points,…
FOMC October Meeting Notes – Powell’s Halloween Special
Fed Chair Jerome Powell was feeling festive on Wednesday when he spooked the market, hawkishly fading the notion that a rate cut at the December Federal Open Market Committee (FOMC) meeting was a guarantee. Powell’s sentiment reflected continued division amongst committee members—instead of playing down the fractured committee, Powell leaned into it, highlighting general uncertainty…