Watch spreads, not the Fed, for mortgage rate shifts
Concerns regarding AI companies' ability to handle inflation drove the 10-year Treasury under 5%, but with data still running hot, could yields turn upward?
Economy
Balbec Capital leans toward multifamily as underwriting standards shift
Incentives structure and fewer losses drive commercial real estate collateralized loan obligation issuance over conduit commercial mortgage-backed securities.
By
John Hintze
Surging yields bring biggest spate of debt sale delays this year
Morgan Stanley this month has struggled to attract demand for a $301 million commercial real estate bond tied to a data center in Kansas City.
Mortgage rates flat this week, but prepare for uncertainty
With how investors are reacting to inflation news and its impact on stocks, it would not take much to move markets in either direction when it comes to rates.
Castlelake first commercial real estate CLO raises $1.1 billion
The collateral pool includes 26 collateral interests backed by 26 commercial multifamily, industrial, hospitality, self-storage, and student housing properties.
BlackRock related trust offers $1.1 billion in CMBS
The pool is primarily composed of multifamily mortgages, but includes a range of properties, and one third of the pool structured with future funding.
Forget jobs or inflation, credit is what matters. And credit is…
When banks start reporting earnings next week, keep a close eye on what they say about credit growth.
Harvest’s small business loans raise $93.1 million in ABS
The 306 loans are primarily first-lien, small balance business loans secured by commercial real estate properties, and other collateral related to the mortgage property.
Rising Treasury yields darkens mortgage rate outlook
Zillow now predicts mortgage rates to end 2026 over 7%.
U.S. benchmark 10-year yield briefly hits highest since 2002
The yield on the 10-year Treasury note briefly rose above its 2007 peak to trade at 5.34% on Thursday. Earlier this week, the rate on 30-year US bonds also hit a 24-year high.
Oakbrook Center, outside Chicago, to support $800 million in CMBS
The trust has a loan-to-value ratio of 56.2%, based on the rating agency's net cash flow (NCF) of the assets and a capitalization rate of 6.00%.
Bank economists see continued growth, persistent inflation
The U.S. economy is expected to keep growing despite nagging inflation, according to the latest consensus report from the American Bankers Association's Economic Advisory Committee.
Fannie, MBA cut 2026 forecasts; plan for 6.8% rates
Given current rates are higher than the MBA and Fannie Mae forecasts, the industry could see further downside risk to the housing outlooks in October.
Mortgage rates near 7% but expected to ease by December
Last week's bond market turmoil continued leading up to the FOMC decision on Wednesday, pushing the 30-year fixed to near or over 7%, depending on the source.
Warsh: Rising bond yields a sign of strong U.S. economy
Federal Reserve Chair Kevin Warsh framed the central bank's move to increase interest rates as a moderate adjustment to rapid economic growth during his post-Federal Open Market Committee press conference.
Vantage launches $2 billion credit facility backing data centers
Meanwhile, Moody's cites the need for investment in power transmission infrastructure to keep pace with rising energy demands to new run data centers.
Labor market rebounds, but all eyes are on inflation for Fed
The U.S. economy added 162,000 jobs in August, bouncing back from a surprise decline in July. The Fed's next interest rate decision will still hinge on next week's inflation reading.
J.P. Morgan Mortgage Trust 2026-NQM5 tops $1 billion with diverse loan mix
The offering is backed by 1,902 first-lien residential mortgage loans, including both fixed- and adjustable-rate mortgages across prime and non-prime borrowers.
CDFIs file lawsuit against Treasury to release funding
A group of community development financial institutions are asking a federal court in California to compel Treasury to disburse funds from the CDFI Fund before they expire in September.
Mortgage rates fall, but limited relief for rest of year
For the first time in six weeks, the 30-year fixed rate mortgage dropped, with observers expecting a steady but challenging housing market for the rest of 2026.
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