Moody's Investors Service said the number of delinquencies within commercial mortgage-backed securities rose 14 basis points last month to 8.24%. Analysts said the increase was the smallest since October 2008 and the represents fourth-straight month of modest growth in the national CMBS delinquency rate. Moody's said there are now 3,971 delinquent mortgages with a total value of $52.07 billion. Although the number of delinquencies and principal balance remain high, the level of mortgages that are current, have been worked out or disposed has increased the past four months, according to Moody's. The hotel sector was hit hardest last month, as the delinquency rate increased to nearly 16% with 22 loans valued at more than $600 million going from current to 60-plus days in arrears. The rate is three times higher than a year earlier. The rate of delinquencies in September for multifamily mortgages included in CMBS fell slightly to 13.42% from 13.45% a month earlier but remains more than twice as high as the roughly 6.1% last year. Write to Jason Philyaw.