Commercial-mortgage defaults now highest since 1993

12/3/2009 |

Commercial real estate mortgage defaults climbed from 2.88% in the second quarter to 3.4% in the third quarter, reaching their highest level in 16 years, Real Estate Econometrics said in an analysis of the data. The 52 basis point jump marks the third-highest increase since 2003. Sam Chandan, president and chief economist at Real Estate Econometrics, said he expects the default rate to peak somewhere above 5% in 2011.

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