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GlobeSt reported last week (see Paul Bubny’s September 1 article) that the rise in the commercial real estate default rate for bank-held mortgages slowed markedly in the second quarter. Based on an analysis of bank filings and FDIC reports by Real Capital Analytics, the default rate for multifamily mortgages – which up to now has exceeded the commercial default rate – actually fell over the same period, marking the first meaningful improvement in the metrics of distress so far this cycle.

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