The percentage of loans contained in commercial mortgage-backed securities (CMBS) that are paying off on their balloon date has exceeded 60 percent for the fourth time in the last five months, according to the Trepp January Payoff Report.
In January, 66.9 percent of loans reaching their balloon date paid off — an increase of more than 12 percentage points from the December reading. The total was also the second highest total over the last four years. Only September's 68.2 percent reading was higher.
The January rate of 66.9 percent is well above the 12-month moving average of 49.2 percent. (This number sums the averages of each month and divides by 12. There was no balance weighting across the months.)
Read more...Trepp: Percentage of CMBS Loans Paying Off at Maturity Jumps via REBusinessOnline.com
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