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Investments / The Ticker

CMBS market improving, Fed says

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Commercial mortgage-backed securities markets are improving, the Federal Reserve reported Thursday in its quarterly survey of senior credit officers.

Markets for securities linked to commercial mortgages and consumer assets, such as car loans and credit card payments, are more liquid for the three months ending in February than in the previous two quarters, the report stated.

The pay-off rate on CMBS loans making scheduled balloon payments hit 61.6% in February, the second highest performance rate since December of 2008, according to Trepp analytics.

Trepp reported that loan curing and new issuance helped the CMBS delinquency rate in February fall to 9.37%, down 15 basis points from January.

— Justin T. Hilley

 

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