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New York -- Delinquencies on commercial mortgage-backed securities declined to 0.68% for March, Fitch Ratings reports based on a delinquency index maintained by the credit rating agency. This represents a three basis point decline in delinquency over the last period, according to Fitch, and is "consistent with the robust performance of most U.S. commercial real estate markets in 2005."
Delinquencies linked to last year's Hurricane Katrina dropped 7% by loan balance and are now at $187.3 million. And real estate-owned properties linked to Katrina rose to 20.7%, up 2.6% from February.
Patty Bach, a Fitch analyst/senior director, said, "Katrina delinquencies are declining overall, ...
Source: HighBeam Research, CMBS Delinquencies Decline.