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FIOffice defaults just hit a new record — and it’s about to hit your local economy.
A new report shows office CMBS delinquencies reached an all-time high of 12.34% (Jan), with nearly $25B of loans sitting past maturity. After years of “extend and pretend,” lenders are tightening up as hybrid work keeps demand lower and refinancing math breaks.
Why it matters: regional banks carry outsized CRE exposure, and when office losses stack up, they protect themselves by restricting credit — which means tougher financing for small businesses, housing construction, and everyday borrowers.
Follow @fintok.co — I track the commercial real estate chain reactions so you don’t have to.
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