In a report released this morning by RBS Greenwich Capital, managing director Lisa Pendergast stated that the CMBS fixed-rate conduit/fusion delinquency rate held steady in August. For this month, the delinquency rate was at 2.23% compared to 2.24% the prior month.
However, Pendergast stated that despite the level month-over-month reading, delinquencies have increased by more than 27 basis points (which is equal to 14%) on a year-over-year basis. Delinquent loans reached $4 billion in August, which is just a little bit less than July’s $4.03 billion. However, this figure is considerably more compared to the year-ago aggregate amount of $3.5 billion. Further, the cumulative loss rate, which was at 0.31% in August, is higher by above 60% compared to a year ago.