Fitch's CMBS index saw a six-basis-point rise in delinquencies during the month of June, up to 4.54% the agency said. The balance of delinquent CMBS loans grew about $65 million, to $17.17 billion, from the prior month.
New delinquencies outgrew the dollar amount of bad loan resolutions by $96 million. Meanwhile, portfolio runoff outpaced new issuances in the month of May (the month used by Fitch for the denominator value in its CMBS index calculation), $5.4 billion versus $1.6 billion.
Retail properties had the highest CMBS delinquency rates at 5.44% in June, an increase of 18 basis points from the month before, while hotel properties followed not far behind at 5.2%, an increase of two basis points from May. Mixed-use properties had the lowest delinquency rate of asset categories specified by Fitch, with a 3.68% delinquency rate, though that rose significantly (178 basis points) from the month before.
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