News
June 24th, 2008
Fed is expected to hold interest rates steady
Straddling risky economic crosscurrents, the Federal Reserve is expected to stand still this week on interest rates.
Fed Chairman Ben Bernanke and his colleagues, who open a two-day meeting Tuesday, are in a tricky spot: they are faced with stuck-in-a-rut economic growth along with inflation threats from rising prices for energy, food and other commodities. Fed officials have made clear that because of concern about inflation, they're not inclined to cut rates further. At the same time, they have recognized that pushing rates up too soon could undermine an economy buffeted by housing, credit and financial woes.
Delinquency rates on commercial/multifamily mortgages remain low - up slightly from the fourth quarter of 2007 but finishing the first quarter of 2008 near record lows for most major investor groups.
The 30-plus day delinquency rate on loans held in CMBS rose 0.08% to 0.48%. The 60-plus day delinquency rate on loans held in life company portfolios remained flat at 0.01%. The 60-plus day delinquency rate on multifamily loans held or insured by Fannie Mae rose 0.01% to 0.09%. The 60-plus day delinquency rate on multifamily loans held or insured by Freddie Mac rose 0.02% to 0.04%. The 90-plus day delinquency rate on loans held by FDIC-insured banks and thrifts rose 0.21% to 1.01%.
To put these numbers in context, of 35,192 commercial/multifamily loans in life company portfolios, with a total unpaid principal balance of $249 billion, only 10 loans with an aggregate UPB of less than $29 million were 60-plus days delinquent at the end of the quarter. Of $1.2 trillion of commercial/multifamily loans at FDIC-insured banks and thrifts, only $12 billion was 90-plus days delinquent.
Commercial Real Estate Listings
Stephen A. Cunningham; MAI, CCIM
Managing Director
Email:
scunningham@landqwestcommercial.com
Office Phone:
239-275-4922 ext. 225
Fax:
239-275-4699
Mobile Phone:
239-910-4085
Commercial Real Estate Listings
Stephen A. Cunningham; MAI, CCIM
Managing Director
| Email: | scunningham@landqwestcommercial.com |
| Office Phone: | 239-275-4922 ext. 225 |
| Fax: | 239-275-4699 |
| Mobile Phone: | 239-910-4085 |
Professional Affiliations/Community Activities: MAI Member of The Appraisal Institute, CCIM Designee of the CCIM Institute, Member of the International Council of Shopping Centers, Florida State Certified General Real Estate Appraiser #RZ300, Florida Licensed Broker.
Fort Myers · 5245 Big Pine Way, Ste 102 · Fort Myers, FL 33907 · (239) 275-4922 · Fax: (239) 275-4699
Tampa · 2203 N. Lois Ave., Ste 704 · Tampa, FL 33607 · (813) 876-2455 · Fax: (813) 876-5757
Tampa · 2203 N. Lois Ave., Ste 704 · Tampa, FL 33607 · (813) 876-2455 · Fax: (813) 876-5757
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