August Pulse Check

Friend,

The last few weeks have been a whirlwind of economic news. Inflation is under 3% for the first time since 2021. Job growth is slowing. Unemployment is up slightly. The soft landing is happening. No, it’s not. Yes, it is.

Boy, it’s tough to know. We are all hoping, expecting, and really leaning into lower interest rates. Maybe as soon as September. By December, for sure. Right?

Our developer clients are dusting off deals and asking, “Where do you think rates will be at the end of the year? At the end of 2Q25? At the end of next year?” We are all dealing with the uncertainty.

Some things, though, are certain. While it is tough to know just how quickly and exactly when rates will come down, the wait, however long it lasts, is nearly over. The need for housing in this country is dire, and as rates fall, developers will figure out how to get deals done again. Multifamily is still the safest asset class and the best way to build wealth over time.

At AGM, we are sure of it. We have added staff, opened new markets in the Midwest, and are expanding our offerings to include VHDA financing in Virginia and bridge financing — for new construction and acquisition of existing assets —nationwide.

The wait is nearly over, and we, along with our clients, are getting ready.

When you're ready to talk about your next project, please schedule a call.

Current Rates

In the News

AGM Financial Services Bolsters Midwest Presence With Strategic Hires

AGM is proud to announce a significant expansion of our Midwest operations with the addition of two key professionals. This strategic move strengthens AGM's market presence and lending expertise across the country, with a particular focus on enhancing services in the Chicago and St. Louis markets.

Brent Frank joins AGM as Senior Vice President of Originations, based in the Chicago office. With over 40 years of lending expertise, Brent brings extensive experience in FHA Market Rate Multifamily, affordable housing, and bridge lending. His background includes roles as a Chicago area Bank President and Senior Lender at both closely held and publicly traded commercial banks.

Randall Forguson takes on the role of Origination Associate in the St. Louis office. Forguson combines technical prowess with a strong customer focus, having spent four years in information systems and virtual infrastructure in San Francisco before transitioning to originations at a national commercial real estate finance company. His analytical skills and three years of direct client experience make him a valuable addition to the AGM team.

AGM Senior Vice President Frank Grosch Appointed to the NAHB Multifamily Council Board of Trustees

Frank Grosch is active with the National Association of Home Builders (NAHB’s) Multifamily Council, Affordable Housing Group, and Multifamily Finance Subcommittee. Frank also spoke at NAHB’s International Builder’s Show in Las Vegas earlier this year and was recently appointed to the Multifamily Council Board of Trustees.

The NAHB Multifamily Council represents the specific interests of builders, developers, owners, and managers of all sizes and types of multifamily housing, including affordable and tax-credit housing, garden and low-rise apartments, mid-and high-rise apartments, multifamily condominiums, student housing, military and veterans housing, and mixed-use multifamily communities.