Oct. 13 (Bloomberg) -- Late payments on commercial mortgages bundled into bonds jumped 41 basis points in September from August, the largest monthly increase on record, according to Moody’s Investors Service.
The 3.64 percent delinquency rate compares with 0.54 percent a year ago [that's hmmmm 7-fold], the New York-based ratings company said in a statement today.
“After tapering off for two months, the delinquency tracker appears to have resumed an upward trend as expected,” Nick Levidy, a Moody’s analyst, said in the statement. “The delinquency rate is likely to continue moving higher over the next several months as troubles compound in the commercial real estate sector.”
Retired CEO of CHIPPEWA PARTNERS, Native American Advisors, Inc., now CEO of the Parisian Family Office. A White Earth Chippewa, Dean helped Native Americans for decades. Raised conservative, began Wall Street career in 1982, met game changer William O'Neil in 1984. In a world on a dopamine, hypomanic binge, this is his take on financial chicanery, political crime and life well lived at their Ghost Ranch in MT or Pamelot, the Parisian's TN farm.
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