Lenders' Insatiable Appetite for Commercial Real Estate
CRE Default Rate Flat in Texas Austin Business Journal's Cody Lyon reports on the findings of the Chandan's third quarter bank default and lending report and trends for Texas-based banks. Lyon writes that Texas default rates have been largely unchanged over the last year:
Texas commercial default rates remained essentially flat over the past year. In the third quarter 2011, 3.08 percent of Texas commercial loans on bank’s books were in default, mirroring the same quarter last year and slightly down from the 3.26 percent reported second quarter 2011.
Multifamily default rates in the Lone Star State were up and down. One year ago, 5.56 percent of Texas multifamily loans were in default. By second quarter 2011, that number fell to 4.04 percent but ticked slightly up to 4.60 percent in the third quarter 2011.
Read the full story at the Austin Business Journal website.