Sales of commercial-mortgage bonds will be reduced by half during the last six months of 2013 as rising interest rates impede new lending, according to Bank of America Corp. (BAC)
The bank reduced its forecast for the year by $10 billion to $65 billion, analysts led by Alan Todd said in a June 28 report. Sales of securities linked to property loans have been rising, with dealers arranging $40.6 billion in new transactions this year, compared with about $41.2 billion in all of 2012, according to data compiled by Bloomberg.
Read more...CMBS Sales to Be Cut in Half as Rates Rise, Bank of America Says - Businessweek
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