A 900% Jump in Hedging Costs Looms Over Commercial Mortgages – Bloomberg

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As the Fed hikes rates, fees for adjustable loans soar: Like paying for flood insurance as a “hurricane is making landfall” ’ 
The New York City skyline on Thursday, Oct. 21, 2021. 

A fee on US commercial mortgages has surged so high that borrowers can’t ignore it and may not be able to afford it. 
Adjustable-rate loans on commercial real estate — including about $350 billion of commercial mortgage-backed securities — almost always require interest-rate caps, a kind of insurance to protect monthly debt payments from soaring out of control when the Federal Reserve boosts rates.


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