CMBS delinquencies almost below 6% mark
Multifamily delinquency rate hits 7.01%
Commercial mortgage-backed security delinquencies inched closer to the 6% mark last month on the back of several large loan dispositions, the latest index results from Fitch Ratings found.
In addition, CMBS late-pays dropped 22 basis points in November to 6.10% from 6.32% a month earlier. The significant drop was led by four large dispositions, with more likely on the way from a CWCapital Asset Management asset sale.
At this rate, CMBS delinquencies are on track to end 2013 below 6%: the lowest rate since 2009.
The multifamily delinquency rate hit 7.01% in November, slightly up from 6.98% in October.