The price of loans that underlie commercial mortgage-backed securities fell slightly from March to April, according to a market research firm.
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The estimated price of whole loans that secure commercial real estate fell to 99.3% at the end of April, from 99.6% at the end of March, according to DebtX. Compared to March 2014, the price was 95.2%.
"CMBS loan prices were down a few ticks but the market fundamentals are still in place," said Will Mercer, a DebtX managing director. "Loan-to-value and debt service coverage metrics both continued to improve."
The median adjusted loan-to-value ratio fell to 57% in April from the previous month. The median estimated loan yield was unchanged at 4.1%.
