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In the the latest episode of The REIT Report: NAREIT’s Weekly Podcast, Orest Mandzy, managing editor at Commercial Real Estate Direct, discussed the first quarter performance of the commercial mortgage-backed securities (CMBS) market.
The first quarter witnessed 24 private label CMBS deals totaling roughly $ 18 billion, according to Mandzy. That represented a decline of nearly a third from the year-earlier period, he said.
In the latest episode of the NAREIT Podcast, Manus Clancy of Trepp discussed the declining number of delinquent loans in commercial mortgage-backed securities (CMBS).
Trepp data show that the percentage of delinquent CMBS loans—the delinquency rate—has trended downward in the last two years in conjunction with the recovery in the commercial real estate markets. It fell to 5.23 percent in October, down approximately 15 percent from the year-earlier level.
The delinquency rate for commercial mortgage-backed securities (CMBS) continues to head lower, as borrowers refinance debt ahead of a wave of maturities in 2017.
The CMBS delinquency rate, which includes loans that are 30 days or more past due, fell to 5.42 percent in July, compared with 5.66 percent six months ago and 6.04 percent a year earlier, according to commercial real estate consulting firm Trepp LLC.
In the latest episode of the NAREIT Podcast, Manus Clancy, managing director with Trepp, discussed some of the latest developments in the commercial mortgage-backed securities (CMBS) market.
Clancy described the market as “benign” from January to early June. Spreads began widening in June, he said.
With mountains of real estate debt coming due in the next three years, borrowers appear to be taking advantage of favorable market conditions to prepay loans tied to commercial mortgage-backed securities (CMBS).
The CMBS delinquency rate, which includes loans that are 30 days or more past due, fell to 5.66 percent in January, compared with 7.25 percent a year earlier, according to commercial real estate consulting firm Trepp LLC. It marked the 18th monthly decline in the past 20 months.
The commercial mortgage backed securities (CMBS) market is expected to end 2014 on solid footing, with loan delinquency rates falling and new issuance likely to surpass last year’s level, according to market observers.
The CMBS delinquency rate fell to 5.8 percent in November, its lowest level in five years, Trepp, LLC reported. As of Dec. 1, delinquencies have fallen 163 basis points, down from 7.4 percent in December 2013, according to Trepp.