From Dow Jones & Company:

According to Moody’s Investors Service, office-loan delinquencies reached a five-year high in November for mortgages included in bond deals, and are expected to keep increasing in 2024. Delinquencies for office loans at least 60 days overdue climbed to 5.28% in November, and are projected to rise further throughout the coming months. This trend is particularly challenging due to a wave of maturing debt with increased borrowing costs. Despite the stock market rally at the end of 2023, the U.S. labor market isn’t supporting higher office revenues. Additionally, a roughly $1.2 trillion wall of U.S. commercial property debt is due to mature through 2025, further adding complexity to the CMBS market.



Read more: Office-loan delinquencies hit 5-year high in 2023, and may rise even higher