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'CRE Prices Could Decline Sharply': Fed’s Cook

Friday, Nov 10 2023
Commercial Lending
Written by  The Mortgage Leader

Federal Reserve Governor Lisa Cook has warned that an uptick in delinquencies for commercial mortgage-backed securities could lead to forced sales and tumbling commercial real estate prices. So reports The Messenger.

Lisa Cook Federal ReserveIn remarks at Duke University, Cook said, “If delinquency rates generate selling pressure or increase notably further and result in forced sales of properties, then CRE prices could decline sharply.”

According to data analytics firm Trepp, the delinquency rate on commercial mortgage-backed securities rose to a post-pandemic high of 4.63% in October.

Read the full article from The Messenger.

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