The delinquency rate for commercial mortgage-backed securities ended 2019 at its lowest point in nearly 11 years, aided by increased issuance and the resolution of legacy transactions, Fitch Ratings said. At the end of December, the CMBS delinquency rate dropped to 1.45% (representing an unpaid principal balance of $6.5 billion), down 7 basis points from 1.52% for November and 74 bps below where it was one year earlier (an $8.9 billion UPB).
Fitch-rated new issuance volume of $10.1 billion from 11 transactions in November outpaced portfolio runoff of $2.0 billion; that led to a higher index denominator. At the same time loan resolutions last month of $299 million exceeded new delinquencies of $136 million. The current delinquency rate at the lowest level since February 2009.
Click here to view original web page at www.nationalmortgagenews.com
No comments:
Post a Comment