CMBS Loan Prices Rose in July: DebtX

The price of loans that underlie commercial mortgage-backed securities rose in July on a monthly basis, according to DebtX.

DebtX priced $877 billion of commercial real estate loans used to secure CMBS trusts through the first seven months of the year. The price of those loans rose to 99.1% at the end of July, compared to 98.6% at the end of June. The year-ago figure was 95.6%.

The monthly increase "was due to a small improvement in loan-to-value and slightly lower interest rates," Will Mercer, DebtX managing director, said in a news release.

The median adjusted loan-to-value ratio fell to 57% in July, from 58% in June. The median debt service coverage ratio rose to 1.45 from 1.44.