Commercial mortgages fail to pay off even as lending increases

More than half of commercial mortgages bundled and sold as bonds have been unable to pay off maturing debt this year even as the availability of financing increases, according to Bank of America Corp. Between 50% and 60% of loans on skyscrapers, hotels, shopping malls and apartment complexes failed to refinance within a few months of their maturity date this year.

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3d rendering of a row of luxury townhouses along a street

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