Delinquencies on commercial mortgage-backed securities fell 4 basis points in May to 0.47%, according to a Fitch Ratings loan delinquency index.Loans on multifamily properties represented the largest percentage of the index by property type, the rating agency said. "Over the past year, multifamily delinquencies have averaged about 32% of all CMBS delinquencies, significantly higher than the average share of office and retail delinquencies of 20% and 19%, respectively, over the same time period," said Patty Bach, a Fitch senior director. Fitch can be found online at http://www.fitchratings.com.
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