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Delinquent commercial real estate (CRE) loans at U.S. banks are on the rise. The volume of past-due loans in which commercial proprietors missed more than one payment jumped 36% in the third quarter.
Borrowers have struggled lately to refinance their loans amid declining property values and rising interest rates. Bank lending remains in historically good shape despite the delinquencies. But past-due CRE loans will continue to increase as long as property values remain under pressure, particularly those in the beleaguered office market.
