CMBS delinquencies still on the rise: style=

Delinquencies on commercial mortgage-backed securities are still on the rise, albeit at the slowest pace seen in the last 11 months, according to a new report from Fitch. The ratings agency’s delinquency rate index rose to 8.14 percent in June from 7.97 percent in May, with hotels still registering the highest delinquency rate — 18.6 percent — which was flat on a month-over-month basis. Still, the report warns that delinquencies are poised to accelerate amid depressed commercial rents and occupancy rates, which could leave landlords crunched for cash to pay off their mortgages, according to National Mortgage News. [National Mortgage News]