NEW YORK, NY -- In September, the percentage of loans paying
off on their balloon date registered 74.5%, according to the most recent data
from Trepp.
This percentage is up more than two points from August's
rate of 72.1% and is the highest reading since December 2008.
At 74.5%, the
September payoff percentage is well above the 12-month moving average of 63.9%.
(This number sums the averages of each month and divides by 12, there was no
balance weighting across the months.)
By loan count (as opposed to balance), 70.1% of loans paid
off, which is slightly lower then the August reading of 72.2%. The 12-month
rolling average by loan count is now 66.8%.
The September reading continues the recent trend of higher
payoff rates compared to those of 2012. This is not all that surprising,
however. In 2012, many of the maturing loans were five-year balloons from the
2007 vintage. Most loans that are reaching their maturity now are 10-year
balloons that were originated around 2003.
For a complete copy of the company’s news release, please
contact:
Eric@greatink.com
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