Oddbean

US office delinquencies ticked higher in June, ratings agencies say ========== The delinquency rate among U.S. office loans rose in June, driven by increasing vacancies and elevated interest rates. The overall rate of delinquencies on loans behind commercial mortgage-backed securities (CMBS) rose to 2.45% in June from 2.42% in May. Office loans made up 55% of 30-day delinquent loans last month. Three of the largest newly late loans last month were backed by offices, including a $244 million loan behind the Illinois Center and a $120 million loan behind 10 office buildings in Mountain View, California. Office vacancies hit a record 20.1% in the second quarter. #UsOfficeLoans #DelinquencyRate #Vacancies #InterestRates #CommercialRealEstate #Cmbs https://www.investing.com/news/economy-news/us-office-delinquencies-ticked-higher-in-june-ratings-agencies-say-3517789