• Last month, borrowers paid off 32.3% of loans that reached the dates for their balloon rates to begin.
• May was the lowest payoff percentage – 29.4% – since October of 2010.
• Trepp LLC blames the ongoing maturing of commercial mortgage-backed securities that hit the market in 2007 and are under water now.

From the report:

Trepp's Manus Clancy tells GlobeSt.com's Jacqueline Hlavenka that only 32.3% of loans reaching their balloon date paid off, which is tied to all-time highs in the CMBS delinquency rate as well.