U.S. CMBS Delinquencies Tumble in July With Strong Hotel Resolutions

Fitch Ratings | August 6, 2021

Fitch Ratings-New York-06 August 2021: Fitch Ratings’ U.S. CMBS delinquency rate fell 22 bps to 3.59% in July from 3.81% in June, due to more loan resolutions, fewer new delinquencies and strong new issuance. Resolution volume was strong, totaling $1.7 billion in July, up from $1.6 billion in June. Most resolutions were hotel ($958 million) and retail ($524 million) loans. Borrowers continue to bring loans current as property cash flows improve, although some are still receiving debt relief. New delinquencies were $853 million in July, down from $1.0 billion in June. The roll rate of 30 to 60 days delinquent was 35% from June to July,...