The US is catching up on its loan payments—just in time for Christmas shopping.
Fitch Ratings index results show that a combo of new loans and resolutions of old ones cut US CMBS delinquency rates 21 bps to 4.16% in November—a $696M drop from $16.4B to $15.7B.
$1B in late loans were resolved in November, over three times the $325M in new delinquencies, Fitch Ratings reports.
On top of that, $7.3B in new loans were issued, outstripping the $4.7B in paid-off ones, so late loans made up a smaller piece of the pie.
Only the industrial sector saw a rate bump (4.22% to 4.38%)—all other sectors cut delinquency.
A cool $198M resolution of the
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