US Office CMBS Delinquency Rate Hits Record 11.8% in October
Commercial Mortgage-Backed Securities for offices saw a sharp rise in delinquencies, now surpassing the post-2008 Financial Crisis peak by over one percentage point.
Summary
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Terms & Concepts
- Commercial Mortgage-Backed Securities (CMBS): Bonds backed by pools of commercial property mortgages, often sold to institutional investors.
- Basis Point: A unit of measure equal to 0.01%, commonly used in interest rates and financial percentages.
- Delinquency Rate: The percentage of loans within a portfolio that are overdue or in default.