Delinquency levels rise, while CMBS experiences decline

Commercial delinquency levels increased for some property types.

Some commercial property managers and owners experienced difficulty paying mortgage loans during August, according to a report from Fitch Ratings.

The month had only two property types with a lowered level of delinquencies. Hotels experienced the highest overall delinquency level, but the 10.8 percent recorded during August was lower than the 11.4 in July, the report explained. Multifamily properties had the second-largest delinquency level, 10.1 percent, but this was still lower than the nearly 10.9 percent recorded the previous month. The industrial sector had a vacancy level of 8.4 percent in August, which also improved slightly from the previous month's 8.6 percent

Retail held the lowest delinquency level in the report, as it had 7.43 percent of all property loans past due, the report noted. However, this was slightly higher than the 7.4 recorded in July. Additionally, the office market had a total rate of 8.7 percent, which was up from July's 8.4 percent.

The report added that commercial mortgage-backed securities had a decline during August to roughly 8.4 percent from the previous month's figure of 8.3 percent.

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