Finance

The market as a whole ended the year roughly flat compared to 2017, continuing a plateau we’ve seen in mortgage borrowing and lending since 2015.

The Trepp Special Servicing Rate fell by 14 basis points to 3.5 percent in February, as we continue to see a steady reduction in the volume of CMBS loans that are in default.

The March reading inched up one basis point to 2.9 percent, which marks the first uptick in five months and the second in the last 12 months, according to The Trepp CMBS Delinquency reading.

Expect a surge in maturing loans held in CMBS, mortgage REITs, debt funds and other shorter-term capital sources, write MBA’s Jamie Woodwell and Reggie Booker.

Private funds, mortgage REITs and other investor-driven debt providers accounted for nearly 13 percent of intermediated mortgages last year.

The spread between new-issue 10-year senior AAA bonds and swap rates averaged 80 basis points during 2018.

An update from the Mortgage Bankers Association and Harvard's Joint Center for Housing Studies on the striking post-recession changes in U.S. homeownership patterns.

The delinquency reading dropped in 10 of the 12 months of 2018. In total, the rate shed 178 basis points during 2018.

While the financial markets have been sending out alarm signals, the Federal Reserve is taking a wait-and-see-approach.

Defaults for commercial and multifamily borrowers remained low in the third quarter of 2018, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report.

S&P Global Market Intelligence reports positive one-year total returns across property sectors, with the notable exception of office and retail.

The multifamily mortgage market is large and diverse, with 2,554 lenders making 44,623 loans totaling a record $285 billion in 2017. But a small number of dedicated commercial real estate lenders are responsible for the overall dollar volume of loans.