U.S. CMBS Market Trends: Office & Retail Delinquencies Hit New Highs as Overall CMBS Late-Pays Drop

``Delinquencies for office and retail loans have hit their highest-ever levels while overall U.S. CMBS delinquencies  fell for the sixth straight month, according to the latest index results from Fitch Ratings. CMBS late-pays declined five basis points (bps) in January to 8.32% from 8.37% a month earlier. The improvement was driven by multifamily loans, which saw a 165-bp plunge in its rate month-over-month to 12.77%. The delinquency rates for office and retail rose to all-time highs of 7.30% and 7.21%, respectively.''