Mortgage Banking

Making sense of commercial real estate finance.

And we’re back!

Posted by Jordan Crouch on November 26, 2007

Even with the Thanksgiving Holiday last week, there is a lot happening in the market. Here’s a recap of a few headlines.

  • Retail sales for Black Friday and Saturday were 7.2% higher than last year. The rest of the year might not be too bad.
  • HSBC, Europe’s largest bank, is bailing out two of its troubled funds, which invested in mortgage backed securities.
  • Citigroup is planning major layoffs after taking a $15 Billion write off. No Christmas for those employees. L
  • Spreads continue to widen but with the ten year treasury at a two year low, interest rates for commercial loans are still in the 6 percent range.

And finally, here is an interesting article about a hedge fund that made a 1000% return this year betting on the sub-prime market tanking. The interesting part is that the fund’s manager, Andrew Lahde, is now betting against the CMBS market. hmm….

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