Daily News 10-21-2026

Retail sales edged up in September as consumers continued to spend following a solid back-to-school season. Core retail sales (excluding restaurants, auto dealers and gas stations) totaled $453.1 billion in September, up 0.27% month over month and up 3.73% year over year, according to the CNBC/NRF Retail Monitor released by the National Retail Federation. (Starting in September, online sales from store-based retailers are now attributed back to their respective categories, so sector figures…»

The level of commercial/multifamily mortgage debt outstanding increased by $42.9 billion (0.9 percent) in the second quarter of 2026, according to MBA’s latest commercial/multifamily mortgage debt outstanding quarterly report. Total commercial/multifamily mortgage debt outstanding rose to $5.1 trillion at the end of the second quarter. Multifamily mortgage debt alone increased $20.7 billion (0.9 percent) to $2.3 trillion from the first quarter of 2026. Commercial and…»

Two of the biggest U.S. banks wrote off more bad commercial real estate loans in the third quarter as they worked to clear troubled debt from their books. Wells Fargo’s CRE write-offs rose to $107M from $16M in the second quarter. Over the same period, its problem CRE loans — those it doubts will be fully repaid — fell 20% to $2.7B, led by declines in office and hotel loans. At Bank of America, CRE write-offs rose to $105M from $2M, while troubled CRE loans fell 17% to $888M. The two…»

Commercial real estate investors waiting for cheaper debt face an uncomfortable possibility: Treasury yields could keep swinging without moving meaningfully lower. A sharp bond-market rally may offer a chance to secure better financing, but economists’ forecasts suggest that lasting relief could remain elusive. The latest trading shows how quickly that opportunity can change. The 10-year Treasury yield began last week at 5.23%, briefly climbed above 5.3% after a hot inflation…»

A California general contractor that’s heavily involved in building data centers in Arizona just signed a lease for two industrial buildings in Phoenix. DPR Construction is taking over 322,000 square feet across two buildings at Papago Commerce Center, located off Interstate 10 and 47th Avenue. The Silicon Valley-based firm ranked as Arizona’s 11th largest general contractor based on 2025 billings, according to Phoenix Business Journal research, with $569 million in billings across the state…»