The average price of the loans underlying commercial mortgage-backed securities increased modestly from October to November, according to DebtX.
DebtX priced $896 billion in commercial real estate loans that collateralize U.S. CMBS trusts through the end of November, according to a news release. Those loans rose in price to 97.6% from 97.4% at the end of October. That compared with 99.1% in November of last year.
"The monthly increase can be attributed to a rise in the Treasury yield curve and a small increase in credit spreads," Will Mercer, DebtX managing director, said in the release.
The median adjusted loan-to-value ratio remained unchanged at 58%, as did the median debt service coverage ratio at 1.46. The median estimated loan yield rose slightly to 4.5%.
