The delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities rose last month - hitting its second-highest level in recorded history, according to Trepp, a real estate research firm.
In October, 9.77 percent of CMBS loans were delinquent 30 days or more or in foreclosure, up from 8.58 percent a year ago, Trepp says.
Charlotte-area delinquency rates are due to be released Thursday.
Commercial mortgage-backed securities are pools of real estate loans that have been packaged together and sold to investors. Packaged loans account for 20 percent of the nation's commercial real estate loans.
Industrial properties saw the biggest increase in delinquencies, which rose to 11.59 percent from 6.27 percent during the past year. Office property delinquency rates jumped to 8.95 percent from 6.68 percent a year ago. Multifamily property delinquency rates rose to 16.73 percent from 14.63 percent; delinquencies for retail properties inched up to 7.61 percent from 7.17 percent; and the delinquency rate for hotel properties fell to 14.12 percent from 14.92 percent last year.
For more details, go to http://www.trepp.com
Wednesday, November 2, 2011
Commercial loan delinquencies up
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5 comments:
As many have previously predicted, first the homes would become delinquent, then commercial mortgages would be the second domino to fall....
Thanks to our witless Commander In Chief, expect more bad news to come until this buffoon gets voted out in 2012.
This is only the beginning. Buy gold and silver. It's the only way to protect yourself from the coming hyper-inflation
Business loan is probably one of the most difficult achievements. This is especially true given the current characteristics of our economic system and continuing regulating changes for credit. As opposed to the earlier part of the past several years, financial institutions and organizations in the awaken of the results from the real estate industry have increased credit expectations across the board. As we have mentioned in previous articles, while rates have continued to be low, financial institutions and organizations have still put considerable constraints on the loans that they allow.
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