Mortgage-Bond Selloff Threatens Rebound in US Commercial Property Market Bloomberg
The nascent recovery in U.S. commercial real estate may be cut short as Europe ’s debt crisis and Standard & Poor’s credit downgrade of Treasuries send borrowing costs to their highest in more than a year.
The outlook darkened in the past month amid a selloff in securities linked to debt on properties such as office buildings and retail outlets. Top-ranked commercial mortgage-backed securities yielded about 298 basis points, or 2.98 percentage points, more than Treasuries as of yesterday, according to a Barclays Plc index. The yield was last that high in July 2010. The spread jumped 35 basis points last week and is up 89 basis points since the end of the second quarter.
Further cracks emerged on July 27 when S&P pulled its rating on a $1.5 billion bond sale by Citigroup Inc. and Goldman Sachs Group Inc., roiling the $600 billion CMBS market. The banks had already been forced to overhaul the transaction to increase collateral protection and boost yields to attract investors.
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August 15 - Home Mortgage Rate Update and Direction of Economy
Cyrus discusses the latest set of economic information. Specifically commenting about Ben Bernanke declaring that the recovery may have begun and ...
chase manhattan mortgage refinance - News
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Picking Up the Pieces (2/5) - Retail Traffic Picking Up the Pieces (2/5) For example, Chase Manhattan Mortgage and Realty Trust Co. ended up in Chapter 11 reorganization when the REIT began running out of operation funds and |
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Wall St., a Financial Epithet, Stirs Outrage - Gainesville Sun Wall St., a Financial Epithet, Stirs Outrage But nobody on Wall Street forced United States homeowners to take out loans on houses they couldn’t afford, or refinance mortgages to spend money on cars |
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Could you live on $275 a week? That's Florida's maximum ... - TCPalm Could you live on $275 a week? That's Florida's maximum Gonzalez had refinanced her mortgage about a month before her employer closed its doors. She tapped her home equity to pay her mortgage and living expenses |
Can the Feds Uncrunch Credit? - City Journal
City JournalCan the Feds Uncrunch Credit? Under the Treasury’s plan, $125 billion went to the nation’s nine largest banks—JPMorgan Chase, Bank of America, and Citigroup among them—whether they
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Boston Properties Inc. Q4 2008 Earnings Call Transcript - Seeking Alpha Boston Properties Inc. Q4 2008 Earnings Call Transcript The two largest assets are part of our Manhattan joint ventures and we do anticipate a reduced loan amount as part of the refinancing of these assets. |