The Department of Labor reported that employment hit a record high of 156,562,000 in October. There were 250,000 new jobs added, or 4.5 million new jobs since November 2016, with gains recorded across all industries.

For the second straight month, the unemployment rate is 3.7%, the lowest rate since 1969. Six times this year, the unemployment rate has been under 4%, and the unemployment rate for Hispanic Americans was the lowest ever recorded, according to the Department of Labor.

“The housing sector registered job gains this month, but the stronger growth in average hourly earnings relative to the private sector overall suggests that labor availability remains a challenge,” said Doug Duncan, chief economist at Fannie Mae. “Information from the household survey indicates that the unemployment rate remains low and steady at a level last seen in 1969.” Gross Domestic Product in the third quarter was 3.5% and consumer confidence was the highest in more than 18 years.

All of which is good news for workers, who are beneficiaries, and are taking home more money.

"Over the past year, we have had the largest increase in average hourly earnings since 2009,” said Alexander Acosta, secretary of labor at the DOL. “It’s encouraging to see that Americans are seeing more in their paychecks as job creators compete for the best talent in the workforce.’

And don’t fear inflation.

“Meanwhile, average hourly earnings accelerated over the year,” said Fannie’s Duncan. “The increase in earnings is a welcome sign for workers and is unlikely to stoke faster inflation given the steady improvement in productivity. The updated information released today suggests that the labor market remains strong and inflation remains manageable, supporting our call that the Fed will raise its key policy rate in December.”

Walker and Dunlop Inc. has acquired iCap Realty Advisors, a mortgage banking firm that provides debt placement solutions for all commercial real estate asset classes. iCap services approximately $2 billion of loans on behalf of life insurance companies, substantially all of which will be added to Walker and Dunlop's servicing portfolio before year end.

iCap's five bankers and brokers and their support staff have joined Walker and Dunlop's Capital Markets group, including Managing Directors Alfie Means and David Collie, who will oversee the team's origination activities. The team has originated $700 million to $1 billion of mortgages through several capital providers.

"With the goal to grow our annual loan originations to $30 to $35 billion by the end of 2020, we have been very focused on expanding our capital markets presence into major markets where we are under-represented, such as Atlanta,” said Willy Walker, chairman and CEO.  “As one of the largest mortgage banking firms in Georgia, iCap will immediately benefit Walker and Dunlop through its deep client relationships and strong deal flow."

Walker and Dunlop's Capital Markets team has relationships with capital providers across the country including banks, life insurance companies, and commercial mortgage backed securities conduits. Through September 30, the firm closed $5.7 billion in loan originations, an 11 percent increase compared to the same period in 2017.

Walker and Dunlop Investment Sales LLC has closed the sale of Stadium Walk and Overlook at Huntcrest, two multifamily properties located in Atlanta. The two transactions were completed on behalf of Brand Properties for around $133 million.

Since the Great Recession, Atlanta’s suburban renter base has grown faster than any other suburbia or city center in the United States. Atlanta’s diverse economy, low cost of living, abundance of well-paying jobs and high quality of life have enabled the city to maintain this high level of population growth.

Led by Kris Mikkelsen and Chris Goldsmith, WDIS’ Southeastern team represented the seller, Brand Properties, in the sale to Blaze Partners. WDIS’ multifamily finance and capital markets team, led by Stephen West, Matthew Wallach and Justin Nelson, arranged financing for the buyer’s acquisition.

Stadium Walk has 309 units and is located in the Cumberland submarket of Cobb County. The high-density surface parked community is within walking distance of The Battery Atlanta, a $2 billion mixed-use development and home of the Atlanta Braves.

Overlook at Huntcrest is a 299-unit, garden-style apartment community located in the Sugarloaf submarket of Gwinnett County, one of Atlanta’s most affluent communities.

“Brand Properties delivered two long-term investments in submarkets poised for continued growth and success. Blaze and their equity partner recognized the challenges related to additional multifamily development in both municipalities and the long-term growth prospects that come with those barriers to entry, said Kris Mikkelsen.

WDIS is a leader in the multifamily brokerage space and continues to expand its capabilities and reach across the United States. In 2018, it expanded to several new markets, including Boston, Dallas, and Southern California.