by Calculated Risk on 2/12/2010 04:03:00 PM
Friday, February 12, 2010
Moody's: CMBS Delinquency-Rate Increases Sharply
From Moody's:
The delinquency rate on CMBS conduit and fusion loans increased by more than 50 basis points in January, bringing the total rate to 5.42%. The total delinquent balance is now more than $36 billion, a $3 billion increase over the month before. By dollar and basis points, this is the largest increase in the delinquency rate thus far in the downturn, as measured by the Moody’s Delinquency Tracker (DQT).On sectors:
emphasis added
The retail delinquency rate rose 72 basis points and currently stands at 5.24%. The 72 basis point increase was more than 1.5 times higher than any increase in the history of the retail DQT ...Hotels and multi-family are the worst, but delinquencies are increasing in every category - especially for retail.
The office delinquency rate rose 34 basis points, and although that represents the second largest increase to the office DQT to date ... the office DQT, which currently stands at 3.53%, is the lowest of the five major sectors ...
The multifamily delinquency rate now stands at 8.77%, a 63 basis point increase over the month before. ...
The hotel DQT increased 75 basis points and currently stands at 9.82%.
Here is WSJ article