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U.S. apartment rents rose modestly in the third quarter as construction slowed, according to CBRE figures cited by Connect CRE. Separately, Newmark figures cited by the outlet show new multifamily loans carried higher average rates than loans coming due, which can make refinancing more costly for owners.
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Higher borrowing costs can pressure apartment owners refinancing loans, while rent growth and slower construction may affect landlords and renters differently across markets. The reported rent increase was small and does not establish how rents will change in individual areas.