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...The number of owner-occupiers with a mortgage has fallen by 2mn since 2002 and sits at levels last seen in the 1980s, according to Building Society Association research....
...“The security of knowing where I am financially over the next five years is more important than the possibility I could pay less in mortgage payments....
...But security guards at both locations said there was no company with that name in those buildings....
...An estimated $1.2tn of US CRE debt is maturing in the next two years, according to the Mortgage Bankers Association....
...However, funding has also come from private lenders and the commercial mortgage-backed securities sector, often bundled into collateralised loan obligations....
...commercial association....
...According to US Mortgage Bankers Association data provided by Newmark, $929bn of commercial real estate debt will need to be repaid or refinanced this year alone....
...So credit is more likely to tighten within other parts of commercial property markets, and not corporate lending, residential mortgage lending or consumer lending: Larger banks could face some turbulence...
...A total of $117bn in commercial mortgages tied to US offices will come due this year, according to the Mortgage Bankers Association....
...There are $117bn of commercial mortgages tied to offices which either need to be repaid or refinanced in 2024, according to data from the Mortgage Bankers Association....
...Some $117bn in commercial mortgages tied to US offices will come due this year, according to data from the Mortgage Bankers Association, part of a wall of looming maturities that is contributing to expectations...
...Most Fed officials support reducing the central bank’s mortgage-backed securities holdings to zero, to avoid distorting the mortgage market....
...Fitch forecast last week that commercial mortgage-backed securities delinquencies in the US would increase from 3.3 per cent to 8.1 per cent in 2024, as refinancing challenges result in defaults....
...Blackstone took control of the trust in 2013 and two years later dramatically expanded it with the purchase of a $4.6bn portfolio of commercial mortgage loans from GE Capital....
...“Even if you really want to move, it’s hard to swap a 3 per cent rate for one at 7 per cent,” says Joel Kahn, deputy chief economist at the Mortgage Bankers Association....
...Lex thought this enthusiasm, from the father of mortgage-backed securities, needed tempering somewhat. Capitalism (and BlackRock) is built on the profit motive. What about the non-profit motive?...
...The migration to commercial software will soon accelerate....
...“They’re looking for low-hanging fruit,” explained Andy Simmonds, chief executive of the Association for Environment Conscious Building....
...GS has to make some assumptions about what securities can refinance, of course....
...What she overlooks is that insurers are one of the largest investors in commercial real estate, in the form of direct commercial mortgage loans, commercial mortgage-backed securities, wholly owned real estate...
...It’s a critical time for the game, with audience numbers surging and commercial and investor interest picking up....
...The government created Freddie Mac, Ginnie Mae, mortgage-backed securities, modified mortgages and subsidised rates for homeowners. It was a 1 per cent mortgage era....
...These conditions also tend to leave mortgage rates higher, which is unhelpful for the consumer, the banks and the building sector....
...EU-Asean: Delegates from the EU and the Association of Southeast Asian Nations meet in Brussels to discuss co-operation on areas including trade, green initiatives and the digital transition....
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