Large multifamily defaults caused a 36 basis point increase in U.S. CMBS delinquencies, bringing them up to 8.59%, according to the latest Loan Delinquency Index results from Fitch Ratings.   

Late-pays within the multifamily sector rose to 17.40% from 15.63% last month, which is the highest level since the rating agency started tracking CMBS delinquencies. Three large loans worth $915 million made up the biggest portion of the $1.2 billion in new multifamily defaults. 

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