Commercial mortgage-backed securities (CMBS) loans paying off on their balloon date have posted their second-highest reading since December 2008, according to new data from Trepp LLC.
In February, 61.6% of loans reaching their balloon date paid off. Only September 2011 had a better reading since the credit crisis began - in that month, the payoff level was 64.4%.
According to Trepp, February marks only the fourth time since late 2008 that the percentage cracked 50%. The 61.6% payoff number was almost 21 points higher than the January reading.
Read more...MortgageOrb: Content / Commercial Mortgage / Trepp: 61.1% Of CMBS Loans Reached Balloon Payoff Date In February
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