Office Crisis Hits New Record High
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Office CMBS Delinquency Rate Spikes to Record 11.1% in June
Since the beginning of 2023, the delinquency rate for office CMBS has exploded by 9.5 percentage points. And so the depression in the office sector of commercial real estate drags on, despite well over a year of pronouncements that “the worst is behind us.”
Blackstone buys $2B of discounted CRE loans from Atlantic Union Bank
For Blackstone Real Estate, the deal adds to the $20B of CRE loan portfolios it has acquired within the past two years, including the acquisition of an \~20% stake in the $17B Signature Bank CRE debt portfolio and the $1B performing senior mortgage loan portfolio from PBB.
Bankruptcy Filings on the Rise in ‘25
Elevated interest rates, record-high credit card and household debt, and the resumption of student loan repayments and collections are all contributing factors driving more individuals to seek bankruptcy protection.
Homeowners Who Gambled on Lower Rates Are Paying the Price
With mortgage rates staying higher for longer, those who had hoped to refinance within a year or two are stuck. The housing market remains divided between homeowners who locked in cheap borrowing costs and those who are burdened by higher monthly payments.
Refis Pick Up Steam as Rate Relief Returns
Falling rates helped push the refinance share of applications to 40.1%, up from 38.4% the previous week. ARM share rose to 7.8%. FHA share fell to 18.2%, while VA share increased to 12.0%. USDA share held steady at 0.5%.
Top 10 Opportunity Zones Where Median Home Price Nearly Doubled Annually
Median single-family home and condo prices rose from Q4 2024 to Q1 2025 in 48 percent of Opportunity Zones with sufficient data—while the national median price held steady during the same period.
