Report: Defaults keep rising on commercial property loans

12/10/2009 | CoStar Group

Delinquencies on commercial real estate loans kept climbing in the third quarter, with the worst deterioration seen for CMBS mortgages and loans held by banks and thrift institutions, the Mortgage Bankers Association said. Mortgages linked to CMBS issues saw their delinquency rate spike from 0.63% a year ago to an all-time record 4.06% in this year's third quarter, the mortgage bankers' group said. Delinquencies on commercial mortgages owned by banks and thrifts reached their highest point since 1994.

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