Late payments on commercial mortgages are piling up as higher rates and weakening property prices bite into the sector
Late payments on commercial real estate mortgages are rising, a sign that higher mortgage rates and falling property prices are weighing on the US property market.
Commercial and multifamily property owners that were late on payment for 30 days or more or have already defaulted on their mortgages and had their properties seized by a lender rose to 3% in the first quarter of 2023, according to theDelinquencies last quarter moved in the opposite direction compared to the same period in 2022, when late payments"Ongoing stress caused by higher interest rates, uncertainty around property values, and questions about fundamentals in some property markets...
"Delinquency rates increased for every major capital source during the first quarter, foreshadowing additional strains that are likely to work their way through the system."
France Dernières Nouvelles, France Actualités
Similar News:Vous pouvez également lire des articles d'actualité similaires à celui-ci que nous avons collectés auprès d'autres sources d'information.
Firefighters battling large fire at commercial building in Signal Hill, sending up plume of smokeFirefighters on Thursday were battling a large fire that broke out at a commercial building in the Signal Hill area, sending up a thick plume of smoke that could be seen for miles.
Lire la suite »
Motorola hasn't even announced the Razr 40 Ultra and its commercial already leakedAhead of the company's expected announcement, Steve H.McFly (OnLeaks) has leaked an ad for the Motorola Razr 40 Ultra.
Lire la suite »
NREL & Volvo Group To Chart Course Toward Zero-Emission Commercial Vehicles - CleanTechnicaVolvo Group, National Renewable Energy Laboratory (NREL) researchers charted a path forward for achieving a zero-emission future (MHDVs)
Lire la suite »
Bad Bunny Splashes Into Summer in New Pepsi Commercial: WatchThe Puerto Rican artist becomes a suave lifeguard in the new spot.
Lire la suite »
Commercial property faces recession if banks don't lend: Ross Perot Jr.Commercial real estate will suffer a recession if banks don't start lending again, warns property billionaire Ross Perot Jr.
Lire la suite »
Investing in Space: Virgin Galactic still has a big hurdle to clear for commercial serviceThe Virgin Galactic story is not about its first operational spaceflight, as long-awaited as that may be. It's about cadence.
Lire la suite »