Retail CRE Isn’t Buying the Sentiment Collapse

Jul 21, 2026

Consumers say they feel worse than they did in 2008 and are spending like nothing is wrong. The Michigan sentiment index set a record low in May, the same month retail sales reached the top of their trailing year. The question for anyone in commercial real estate (CRE) reading the consumer is which signal to…

CMBS Debt & Financing Capital Markets Financing & CMBS U.S. National Michigan

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Where the Second-Half 2026 CMBS Refinance Gap Is Hiding

Disclaimer: This is an excerpt from Trepp's "Where the Second-Half 2026 CMBS Refinance Gap Is Hiding" report. Click here to access it . Commercial real estate headlines continue to focus on the next wave of loan maturities. The assumption is straightforward: billions of dollars are coming due, making refinancing…

CMBS

Debt & Financing

Capital Markets

U.S. National

Posted today·Published Jul 21, 2026Read

Trepp

Chief Economist's Weekly Watch – July 20 2026: Regional Bank and Consumer Lender Earnings, & Housing & Business Activity

Last week's much softer June inflation report knocked a July rate increase off the table after hike odds had been climbing, and Chair Warsh did little in two days of congressional testimony to challenge that repricing. This week the Fed goes quiet ahead of its July 29 decision, while attention turns to the banks…

CMBSDebt & FinancingCapital MarketsU.S. National

Posted 1 day ago·Published Jul 20, 2026Read

Trepp

Securitized Agency Delinquency Rate Declines in May, Fannie and Ginnie's Drops Offset Freddie's Rise

Securitized Agency loan performance improved modestly in May 2026. The total Agency delinquency rate declined to 0.47%, holding near the low end of the narrow range that has prevailed since mid ‑ 2025, as shown in Figure 1. As in prior months, aggregate movement reflects program ‑ level composition effects rather…

CMBSDebt & FinancingCapital MarketsU.S. National

Posted 4 days ago·Published Jul 17, 2026Read

Trepp

Muted CRE Bank Lending Is a Large-Bank Story

After two years of tighter credit conditions, the bank commercial real estate (CRE) lending story has shifted from whether banks are pulling back to where balance sheets are growing again. Aggregate loan growth has picked up in parts of the CRE book, and recent lending commentary has pointed to a cautious return of…

CMBSDebt & FinancingCapital MarketsU.S. National

Posted 4 days ago·Published Jul 17, 2026Read

Trepp

Florida's Rising Unemployment Is a Migration Story, & So Is the CRE Exposure

Florida’s unemployment rate rose to 4.8% in May, up from 3.7% a year earlier, one of the largest increases of any state and the highest Florida reading in nearly five years. The rate has continued to climb and now sits above the national unemployment rate of 4.3%.

CMBSDebt & FinancingCapital MarketsU.S. NationalFlorida

Posted 5 days ago·Published Jul 16, 2026Read

Trepp

Is It Time to Proclaim San Francisco Is Back?

Disclaimer: This is an excerpt from Trepp's "Is It Time to Proclaim San Francisco Is Back?" paper. Click here to access it . After five years of headlines declaring San Francisco commercial real estate uninvestable, the narrative is beginning to shift. Leasing activity is accelerating, institutional capital is…

CMBSDebt & FinancingCapital MarketsU.S. NationalSan Francisco

Posted 6 days ago·Published Jul 15, 2026Read

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