Spreads on CMBS securities declined in June, positively impacting CMBS conduit loan rates. The benchmark AAA-rated super-senior CMBS closed the month at 115 basis points (bp) over swaps, down from 145 bp over swaps on June 1. Super-senior AAA-rated CMBS spreads peaked in March during the height of … [Read more...] about 6.30.20: CMBS LOAN RATES CONTINUE TO DECLINE AS CMBS SPREADS RALLY
12.10.19: CMBS DELINQUENCY RATES CONTINUE TO DECLINE
The Trepp CMBS delinquency rate maintained its downward trend in November, falling sharply to another post-crisis low. The November reading was 2.34%, a month-over month drop of 13 basis points (bp). The delinquency rate is down 99 bp year over year. The delinquency rate started to fall after June … [Read more...] about 12.10.19: CMBS DELINQUENCY RATES CONTINUE TO DECLINE
3.10.19: CMBS Delinquency Rates Continue to Decline
The Trepp CMBS delinquency rate broke through the 3% threshold in February 2019 as the reading continues its steady decline. The February reading fell 15 basis points (bp) to 2.87% from 3.02% registered in January. The February result is another post-crisis low. The delinquency rate is 164 bp lower … [Read more...] about 3.10.19: CMBS Delinquency Rates Continue to Decline
3.20.18: Rents for Apartment in NYC Poised to Decline
Beleaguered renters in New York City may begin to see some relief to rising rents as the year progresses. Market analysts are watching rents plateau and developers increasing incentives to lure tenants into all the new properties that are completed and now leasing. Market participants are … [Read more...] about 3.20.18: Rents for Apartment in NYC Poised to Decline
5.24.16: CMBS Spreads Decline Due to Lack of Supply
CMBS spreads continue to decline as the pace of new CMBS issuance falls well behind last year. U.S. CMBS volume as of late May was $28.5 billion versus $44.1 billion at the same time last year. Volume has fallen due to significant CMBS spread widening that reversed course in the beginning of March … [Read more...] about 5.24.16: CMBS Spreads Decline Due to Lack of Supply
5.26.15: CMBS Delinquencies Continue to Decline
The CMBS delinquency rate for U.S. commercial real estate loans in CMBS declined a significant 0.17% from April to 5.40% in May, according to Trepp. In the last 25 months, the delinquency rate has fallen 22 times and is now 87 basis points (bp) lower than the year-ago level. The May decrease is the … [Read more...] about 5.26.15: CMBS Delinquencies Continue to Decline
8.15.14: CMBS Delinquency Posts Small Decline in July
The CMBS delinquency rate for U.S. commercial real estate loans in CMBS declined a fraction in July, to 6.04%, barely extending a 14-month month-over-month decline, according to Trepp. Loan resolutions totaled just over $600 million, one of the lowest monthly totals in recent years. Removing these … [Read more...] about 8.15.14: CMBS Delinquency Posts Small Decline in July
6.27.14: Super-Senior CMBS Spreads Continue to Decline
On June 19, Deutsche Bank and Cantor Fitzgerald priced the benchmark class of a $996.3-million multi-borrower CMBS conduit offering at the tightest spread in more than a year. The benchmark class of the Deutsche-Cantor deal priced at 78 basis points (bp) over swaps. That was 1 bp tighter than the … [Read more...] about 6.27.14: Super-Senior CMBS Spreads Continue to Decline
6.12.14: Super-Senior CMBS Spreads Decline to 16-Month Low
The super-senior benchmark AAA-rated class of a multi-borrower CMBS conduit offering led by J.P. Morgan priced on June 12 at the tightest level since February 2013. The benchmark class priced at 79 basis points (bp) over swaps. The last time the CMBS market achieved that level was on February 5, … [Read more...] about 6.12.14: Super-Senior CMBS Spreads Decline to 16-Month Low
4.30.14: Swap Rates Decline on Poor GDP Report
Swap rates, an important financial index that is used to set interest rates on CMBS conduit loans, fell this week after the government reported annualized Gross Domestic Product (GDP) growth of a mere 0.01% in the first quarter of 2014, according to the “advance” estimate released by the Bureau of … [Read more...] about 4.30.14: Swap Rates Decline on Poor GDP Report