CMBS delinquencies in November dropped 22 basis points from the previous month to one basis point above 6%, and Fitch expects them to end the year below 6%. CMBS delinquencies were last this low in 2009.
November brought with it some new delinquencies. These added to overall late-pay numbers, but at a slower pace than dispositions, according to Fitch.
The industrial delinquency rate got more than 1% lower in November, as hotel delinquencies fell by 68 basis points and office delinquencies improved by 18 basis points during the month. Multifamily delinquencies inched up three basis points and retail delinquencies were up by just one basis point.