By one metric, US CMBS last year saw its best performance since before the capital markets crisis. Fitch Ratings said Monday that the annual default rate for securitized commercial mortgages fell to 0.9% in 2013, the lowest level since 2008.
The default rate last year was 26% lower than in 2012 and down 75% from the peak in 2010. “The broader commercial real estate markets are stabilizing and healthy new CMBS issuance volume is providing ample liquidity,” says Mary MacNeill, managing director at Fitch. New issuance levels for conduit loans hit a five-year high, thus allowing many loans to refinance, Fitch says.
Read more...CMBS Defaults Hit Four-Year Low - Daily News Article - GlobeSt.com
No comments:
Post a Comment
Note: Only a member of this blog may post a comment.