How strange: a bit of positive news coming out of the US: having climbed steadily in the first part of the year, CMBS delinquencies seem to have hit a plateau at around 8%. It’s a pretty horrendous number, of course, but a lot of market watchers didn’t expect it to stop there. Here’s a good read on it from a study flagged by FT Alphaville.
Ratings downgrades have also declined, though of course the situation varies by property type. But overall, the report is encouraging given the pace at which delinquencies had been ticking ever upwards in the first quarter of the year.