Delinquencies on mortgages supporting commercial mortgage-backed securities rose 2 basis points to 0.41% in June, largely as a result of higher delinquencies on retail and office loans, according to a Fitch Ratings loan delinquency index. The rating agency maintained that the retail sector is still under pressure. "An increase in retail bankruptcies and a continued decline in consumer disposable income are evident, though they have yet to impact retail performance," said Susan Merrick, a Fitch managing director. Delinquencies on retail loans rose 25.7% on a month-to-month basis due to the addition of 15 newly delinquent loans in 12 states, the rating agency said. Fitch can be found online at http://www.fitchratings.com.
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