General

Britain’s vote to leave the European Union is sending shock waves through its property sector, leading worried investors to delay purchases and bail out of real estate funds.

After hitting highs in 2015, rents grew at an annual rate of 3.7 percent in the second quarter versus 5.1 percent last year.

The average size of a rental has shrunk 8% in the last 10 years, according to RentCafe.

The average rate of a 30-year fixed mortgage dropped to 3.48% — the lowest level since May 2013, according to Freddie Mac.

B2R, a mortgage company owned by Blackstone Group, is offering mortgages for investors that require nothing of the borrower.

The final push of the spring housing season turned out weaker than expected. Contracts to buy existing homes fell 3.7 percent in May.

The U.K.’s housing market is seen taking a knock in the wake of the Brexit vote, but the forecast depreciation in sterling may spur investment.

Before the British vote, total U.S. mortgage application volume decreased 2.6 percent last week.

Massive renovation by Chinese insurer Anbang Insurance will close landmark Waldorf Astoria for more than a year to convert most rooms into luxury condos.

U.S. REITs, and the real estate underlying them, are the power play for the anxious investor after Brexit.