| From Bloomberg: Defaults on commercial property mortgages held by U.S. banks rose in the third quarter, extending a pattern begun in late 2006 when real estate prices were close to a peak, said Real Capital Analytics Inc.
About $604.1 million of loans on office buildings, malls, hotels and other commercial properties went into default in the three months ended Sept. 30, pushing the default rate to 4.36 percent of outstanding loan balances, from 3.41 percent a year earlier and 4.27 percent at midyear, the New York-based real estate research firm said..............................................Full Article: Source
|