From Americasnewsonline.com: The report was the latest evidence of stabilization in the U.S. commercial real estate market. Credit rating agency Standard & Poor’s said on Monday the delinquency rate for loans behind commercial mortgage-backed securities (CMBS) rose 3 percent in the third quarter, down a jump of 14.1 percent in the second and 30.2 percent in the first. A loan is considered delinquent if it is more than 30 days late.
A few markets showed renewed life earlier this year, but mostly due to the federal first-time home buyer tax credit, which finally expired in September……………………………………….Full Article: Source