Richmond Times-Dispatch from Richmond, Virginia • D2

Area TV viewers with antennas must rescan sets by March 13 COMMERCIAL MORTGAGES Lenders' mood called 'reluctantly optimistic1 bels are different among manufacturers). Once you find either the "Channel Scan" or "Channel Tuning" buttons, choose the automatic option to rescan. The TV should automatically scan for available channels. For further assistance, TV viewers can visit www.fcc.govTVrescan or call the FCC's consumer help line at (888) 225-5322 and press 6 to speak with a dedicated help desk representative, seven days a week, from 8 a.m. to 1 a.m.

The call center is available in English and Spanish and the information on the website is available in English, Spanish, Chinese, Vietnamese, Korean and Tagalog. Jbiadawelietlmesdspatchxom (804) 775-8123 mercial Mortgage Survey. Conduit pricing on 10-year loans is wider and hovering in the 3.40 to 3.75 range for most full-leverage loans. While there is some concern about the global economy, most lenders want to put out more money, but are wrestling with the reality of low rates. As one lender lamented, "I don't like my side of this trade.

I get paid 350 interest only for 10 years. If buyers can't make their deal work at this level, there is something wrong." That comment came when rates were at 3.50. Now, rates are lower. The most immediate impact is on multifamiry deals where cap rates are falling almost as quickly as rates. If a buyer obtains a 3.25 mortgage at 70 of acquisition price that is interest only for four or five years, they can pay as low as a 4.25 cap rate and still generate a 6.5 cash dividend to investors in the first year.

So, how about a retail property bought at a 7.75 cap rate? The rate may be a little higher at 3.40 and the leverage may be 65 in order to get 10 years of interest only, but that buyer can provide investors with a 12 cash dividend in the first year. Despite fears of a slowdown, the low Treasury yield has many investors feeling optimistic, even if reluctantly. John B. Levy A Co. partner and Investment banker Andrew Uttle can be reached at allttle Jblevycoxom.

BY JOHN USD BLACKWELL Richmond Times-Dispatch Richmond-area residents vio watch television using an over-the-air antenna will need to res-can their TVs by March 13 to keep getting those local stations. The rescanning is necessary because the Federal Communications Commission is requiring almost 1,000 television stations around the country to change frequencies to make room for new 5G and other mobile broadband services. "The demand for more and more wireless mobile broadband capacity has been growing exponentially over the last decade or so," said Jean Kiddoo, chair of the incentive auction task force at the FCC. "We identified the TV broadcast spectrum band as an area we could be using more efficiently. We are essentially reorganiz ing the frequency assignments in the TV band and moving them around a little bit so we can free up that capacity." The five television stations affected by the frequency change in the Richmond and Petersburg area are: WRIC-Channel WTVR-Channel WWBT-Chan-nel 12; WCVE-Channel 23, and WCVW-Channel 57.

All of those stations are expected to switch to the new frequency by March 13, the FCC said. Kiddoo said television stations are running announcements notifying viewers of the need to rescan. WRLH-Channel 35 made the switch on Sept 6, according to the FCC. "The channels that the viewer sees will not be changing," Kiddoo said. "The TV needs to be trained to find those channels at their new frequency.

A rescan should only take three or four minutes." Viewers who subscribe to cable and satellite television will not need to rescan. Nationwide, however, millions of U.S. households up to 20, Kiddoo said wat ch national network and local TV programming using an over-the-air antenna. "The number of TV viewers who are using over-the-air antennas is actually growing," Kiddoo said. "As people are cutting the cord and getting a lot of content online, they still need local TV broadcasting and local weather." To do a rescan, the FCC said viewers need to use their TV remote control or analog TV converter box.

Choose "Channel Scan," "Channel Tuning," or "Auto Search" in the "Setup" or "Channel" menu (the precise la ike a line from the hit song "Pompeii" by English alterna tive band Bastille, many in commercial real estate are asking themselves, "How am I gonna be an optimist about this?" While the U.S. commercial real estate market continues to thrive despite rising global threats, the longest recovery period in history is weighing on lenders' minds. At the annual Mortgage Bankers Association meeting in early February, one lender described the mood as "reluctantly optimistic." The reluctance comes from the feeling that all good things must come to an end, but the optimism comes from the success of 2019 and strong momentum headed into 2020. CONSUMER RATES 1 mo 6 mos i Rate ago ago money market account 038 038 0J6 6-month CD 0.81 0.82 0.91 2-year CD 1.16 1.18 1M 60-mo. new car loan 3.72 3.72 447 $30K home equity 5.93 1 mo 6 mos ago ago 351 359 358 353 3.20 3.75 Rate 357 3.00 326 30-year fixed 15-year fixed 1-year ARM Source: Bankrate.com Metro Business Is published every Monday as a regular section of the Richmond E.

Franklin St, Richmond, VA 23219. Email: metroblztlmesdlspateh.com. Growing fear of the corona-virus outbreak has unsettled markets. While ob- Andrew R. Littte servers can paint a picture of supply-chain interruption and the resulting business slowdown, the immediate impact has boosted returns for investors trying to lock in rates.

Prior to global threats of a pandemic, the U.S. Treasury yield was bouncing around at near all-time lows. But last week, the yield on the 10-year Treasury note reached an all-time low. Since most long-term fixed-rate commercial mortgages are priced off the 10-year Treasury, pricing on loans has dropped off a cliff. At the mortgage bankers conference, many insurance company lenders indicated they were trying to stick to a 3 floor on their loans.

Unfortunately, with the 10-year Treasury yield dropping into the 130 range, a 3 floor is hard to justify for many top-quality deals. Rates have fallen dramatically and now are in the 2.50 to 3 range for low leverage top quality 5- and 10-year mortgages, according to the John B. Levy Co. Inc's Com Calls about advertising should be made to (804) 649-6251. BuflMtsadltor GregorylGllllgan ggllllgantlmesdlspatch.com (804) 649-6379 MARKET INSIGHT 8 KEY RATES lday lwk Rate ago Prime Lending 4.75 4.75 4.75 Discount Rate 2.25 2.25 2.25 Fed Funds TREASURIES lday ago L54 IM 131 1.11 L30 1.79 lwk ago L57 135 L51 133 1.47 1.92 Rate 1.43 1.29 1.14 086 1.12 1 Month T-bill 3MonthT-bill 6 Month T-bill 2 Year T-riote lOYearT-note 30YearT-bond 1.67 to Metro business On th cover Jon Bridges left Capital One at 40 to start at the bottom with the Richmond Police Department He's now a sergeant leading the 1st Precinct's Focus Mission Team.

D8 Cow photo by: Staff photographer Daniel Sangjlb Mln John Reld Blackwell Jblackwelltlmesdlspateh.com (804)775-8123 Sean Gorman sgomiantlmesdlspateh.com (804) 649-6885 I OS.