The price of the loans underlying commercial mortgage-backed securities declined 210 basis points during 2015, amid a broad rise in interest rates, according to DebtX.
The estimated price of the whole loans securing the CMBS universe was unchanged from November to December at 97.6%.
"CMBS loan prices dropped 210 basis points primarily due to a rise in interest rates across the yield curve and a widening of market spreads across all collateral types," Will Mercer, managing director of the Boston company, said in the release.
DebtX priced $900 billion of commercial real estate loans that collateralize U.S. CMBS trusts through the end of December, according to a Monday news release.
The median adjusted loan-to-value ratio increased to 58% in December, the median debt service coverage ratio increased to 1.47 and the median estimated loan yield rose to 4.6%.
