After predicting that the CMBS delinquency rate would plateau following a four-month-straight climb, the latest numbers from Trepp LLC show that the numbers are still steadily rising. In its latest monthly report, Trepp reports that the CMBS delinquency rate rose to 10.34% in July, an increase of 18 basis points from June (10.16%), and a rise of 97 basis points since February (9.52%).
Manus Clancy, senior managing director at Trepp, tells GlobeSt.com that the company previously forecasted that the troublesome class of 2007 loans that had reached their balloon dates but were not refinanced would hit a peak by the first half 2012 and level off in the second half. But after the rate cracked 10% in May and continues to creep up, Clancy says it may take a little more time for the rate to normalize once again.
Read more...GlobeSt.com - CMBS Delinquencies Increase for the Fifth Consecutive Month - Daily News Article
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