Danger to banks from commercial mortgages still climbing
posted on August 12, 2009 at 8:30 am
Delinquency rates for commercial mortgage-backed securities (CMBS)–that is commercial mortgage loans backed by office buildings, retail stores, hotels, and apartment buildings–that have been packaged into securities and then sold to investors–rose to 3.04% in July, according to Fitch Ratings. That’s the highest level since Fitch began tracking this sector in 2001.
