Interest rates are at the lowest levels in decades, but commercial property owners looking to refinance shouldn't expect to lock in those rates any longer.
"Analysts say the hard line that lenders are taking could be especially harsh on adjustable-rate, or floating-rate, loans, where the difference between the old rate and the new rate will be greatest," The Wall Street Journal said in its report Wednesday.
Low rates in recent years may have obscured problems with some properties, the paper reported.
The Journal quoted Eric Thompson, a managing director at Kroll Bond Rating Agency, as saying, "The merry-go-round will stop, and they are not all going to get financing."
