Delinquencies on CMBS up just slightly

04/22/2008 | Financial Week

Securities backed by U.S. commercial mortgages are not going through the same tailspin in delinquencies seen on residential mortgage loans. The CMBS delinquency rate rose by three basis points to 0.33% in March, the second consecutive monthly increase, According to Fitch Ratings' CMBS delinquency index. Though the delinquency rate is expected to rise to about 1% this year, that will still be "just a bit above the historic average," said Susan Merrick, managing director and CMBS group head.

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