CMBS delinquencies were unchanged in July at 4.87%, bringing an end to 15 consecutive months of declines in which the rate dropped 276 basis points (bps) from 7.63%. Resolutions of
Despite resolutions edging out new delinquencies, the overall rate remained unchanged due to a decrease in the index denominator. Fitch-rated new issuance volume of
Current and previous delinquency rates are as follows:
--Multifamily: 5.56% (from 5.65% in June);
--Hotel: 5.47% (from 5.30%);
--Industrial: 5.27% (from 5.78%);
--Office: 5.22% (from 5.13%);
--Retail: 4.85% (from 4.82%).
Additional information is available in Fitch's weekly e-newsletter, 'U.S. CMBS Market Trends', which also contains recent rating actions and an overview of newly released CMBS research, including Fitch presales and Focus reports. The link below enables market participants to sign up to receive future issues of the E-newsletter: 'http://pages.fitchemail.fitchratings.com/CMBSMktOptin/'
Additional information is available at 'www.fitchratings.com'
Source: Fitch Ratings
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