Delinquencies for U.S. CMBS 2.0 remain virtually nonexistent, which helped to keep the overall rate of late-pays steady, according to the latest index results from Fitch Ratings.
CMBS late-pays declined seven basis points (bps) in May to 7.37% from 7.44% a month earlier.
Meanwhile, delinquencies for transactions issued post-2009 (CMBS 2.0) stood at just 0.03%. The tighter post-recession credit environment coupled with still-low interest rates is helping to keep newer CMBS delinquencies hovering near zero.
Conversely, the peak vintage (2006-2008) delinquency rate remained high at 11.6%, compared with 6.75% for transactions issued in 2005 and prior.
Read more...CMBS 2.0 Delinquencies Virtually Non-Existent - CoStar Group