There continued to be some mixed signals in CMBS and RMBS markets last week but these still netted out to cautiously optimistic views of the sectors in some respects.

For example, the percentage of CMBS loans paying off at their balloon date retreated to 38.7% in January after spiking to 51.5% in December, according to Trepp. But Trepp managing director Manus Clancy said he would be cautious about reading too much into the decline. “One month doesn’t make a trend,” he said.

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