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Delinquencies are rising for autos and credit cards, but remain below pre-GFC levels. Fitch Ratings estimates 75% of US conduit office loans will default by 2024. Over $38 billion of US office buildings face distress. Office-loan defaults are near historic levels, with $265M loan tied to potential foreclosure for 6 DFW office properties. Office delinquencies are rising, while other sectors remain stable. The office market sees historic defaults due to high interest rates and weak demand.
Nationwide restaurant chain tries desperate bid to avoid bankruptcy https://t.co/Q5vPXNuPhg
6 DFW office properties, including former HQ, face potential foreclosure tied to $265M loan https://t.co/UYxWzEMGSp
Offices were the only commercial segment where delinquencies kept rising in the first quarter, with rates unchanged for all other sectors. 6.8% of office loan balances were 30 or more days late, an increase from last quarter's 6.5%, per Mortgage Bankers Association.
