Arizona

Commercial Mortgage Delinquencies Rise in Hard-Hit States 

Defaults on hotel and retail loans drive up delinquency rates for commercial real estate loans, with strong concentrations in the parts of the US hit hardest by the housing crisis. Fitch Ratings cited five defaulted loans of at least $100m each as contributing factors to a record $2.2bn net increase in delinquencies in June. According to its report, released Monday, delinquencies are up 48 bps to 2.55%. Moody’s Investor Services put the delinquency increase in its July 10 report at 2.67%.