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The Federal Reserve's moves to calm the financial markets with two interest rate cuts in the third quarter paid dividends, according to CBRE.
The CBRE Lending Momentum Index, which tracks the pace of commercial loan closings in the U.S., rose 8.2 percent from June hitting a value of 264 in September 2019. The index rose 5 percent from a year ago.
"When the Fed lowered its rates a couple of times, I think it provided a pretty attractive lending environment with lower coupons," says Brian Stoffers, Global President of Debt & Structured Finance for Capital Markets at CBRE. "So that definitely helped."
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Leslie Shaver
Les Shaver has been covering commercial and residential real estate for almost 20 years. His work has appeared in Multifamily Executive, Builder, units, Arlington Magazine in addition to GlobeSt.com and Real Estate Forum.
