Provident Bancorp Inc (PVBC): Late payments on commercial mortgages ar...

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Re: 56Chevy post# 3

Tuesday, 06/20/2023 12:20:04 PM

Tuesday, June 20, 2023 12:20:04 PM

Late payments on commercial mortgages are piling up as higher rates and weakening property prices bite into the sector

Jun 2, 2023, 7:43 AM MDT

• Late payments for commercial real estate mortgages rose last quarter as pressure builds for the US property market.

• Commercial mortgage borrowers that were late on payments for at least 30 days or already defaulted rose to 3%.

• More signs of stress could surface as high rates and weak property prices take a toll on the sector, the MBA said.

• Late payments on commercial real estate mortgages are rising, a sign that higher mortgage rates and falling property prices are weighing on the US property market.

[....]

Source:
https://news.yahoo.com/payments-commercial-mortgages-piling-higher-214328465.html

*This trend is not our friend.

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Recent PVBC News

Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/09/2024 08:38:46 PM
Provident Bancorp, Inc. Names Kenneth Fisher Executive Vice President and Chief Financial Officer • PR Newswire (US) • 05/07/2024 08:15:00 PM
Provident Bancorp, Inc. Reports First Quarter Net Income of $5.0 Million • PR Newswire (US) • 04/25/2024 08:05:00 PM
Form 8-K - Current report • Edgar (US Regulatory) • 02/16/2024 09:06:26 PM
Provident Bancorp, Inc. Appoints Julienne Cassarino to Board of Directors • PR Newswire (US) • 02/16/2024 09:05:00 PM
Form SC 13G - Statement of acquisition of beneficial ownership by individuals • Edgar (US Regulatory) • 02/14/2024 03:04:40 PM
Form 8-K - Current report • Edgar (US Regulatory) • 02/09/2024 09:11:41 PM
Form SC 13G/A - Statement of acquisition of beneficial ownership by individuals: [Amend] • Edgar (US Regulatory) • 02/06/2024 03:55:27 PM
BankProv Welcomes Sandra Ennin as VP, Business Banking Officer • PR Newswire (US) • 01/31/2024 03:00:00 PM
Provident Bancorp, Inc. Appoints Dennis Pollack to Board of Directors • PR Newswire (US) • 01/26/2024 10:10:00 PM
Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 09:32:16 PM
Form 8-K - Current report • Edgar (US Regulatory) • 01/26/2024 04:02:03 PM
Provident Bancorp, Inc. Reports Results for the December 31, 2023 Quarter and Year • PR Newswire (US) • 01/25/2024 10:35:00 PM
BankProv Welcomes Curt Murray as AVP, Business Banking Officer • PR Newswire (US) • 01/09/2024 05:00:00 PM
Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 11/13/2023 02:50:38 PM
Form 8-K - Current report • Edgar (US Regulatory) • 11/01/2023 03:11:13 PM
Form 8-K - Current report • Edgar (US Regulatory) • 10/31/2023 09:15:27 PM
Provident Bancorp, Inc. Reports Results for the September 30, 2023 Quarter • PR Newswire (US) • 10/26/2023 08:45:00 PM
BankProv Adds Business Banking Expert To Support New Clients • PR Newswire (US) • 08/25/2023 05:00:00 PM
Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/10/2023 02:45:02 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/07/2023 06:09:40 PM
Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/01/2023 07:10:20 PM
Form 8-K - Current report • Edgar (US Regulatory) • 07/28/2023 05:35:50 PM
Provident Bancorp, Inc. Reports Results for the June 30, 2023 Quarter • PR Newswire (US) • 07/27/2023 09:40:00 PM
BankProv Hires New Vice President of Business Development • PR Newswire (US) • 05/23/2023 03:00:00 PM

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