NEW YORK, NY -- Trepp reports the percentage of loans paying off on their balloon date
jumped sharply in May to 77.1%.
The rate is more than 13 points higher than the
April reading of 63.6%. This month's increase broke a string of five straight
months in which the payoff rate had fallen.
From November 2013 to April 2014,
the rate dropped from 81.3% to 63.6%.
The May payoff percentage was well above than the 12-month
moving average of 70.9%. This number sums the averages of each month and
divides by 12--there was no balance weighting across the months. The highest
rate in the last five years was November 2013 when payoffs totaled 81.3%.
(Trepp began measuring this statistic in August 2008.)
By loan count (as opposed to balance), 74.8% of loans paid
off in May. That was an increase from April's level by loan count, as 67.0%
paid off. The 12-month rolling average by loan count is now 70.1%.
For a complete copy of the company’s news release, please
contact:
Eric Gerard Eric@greatink.com
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