Commercial lending: What’s the latest outlook?

Alex Horn (pictured top), managing partner and founder at BridgeInvest, told Mortgage Professional America that with over two years having passed since the Federal Reserve started hiking interest rates – and 12 months since its key rate hit its current high – the idea of high rates being a short-term phenomenon was beginning to fade.

Instead, lenders and borrowers are starting to come to grips with the reality that higher rates are going to be around for a longer period, according to Horn. “And so in the last 12 and 24 months, you saw a lot of institutions that were giving modifications or extensions to the existing loans with existing borrowers – with the idea that tomorrow or next year will be better,” he said.

See the full article on Mortgage Professional America