Fitch Ratings-New York-08 October 2021: Fitch Ratings’ U.S. CMBS delinquency rate fell 18 bps to 3.15% in September from 3.33% in August due to continued strong hotel and retail resolution volume and steady new issuance activity. Fitch expects the delinquency rate to continue to stabilize and dip below 3% by year end, outperforming the prediction made at the start of the year, which was anticipated to end the year below 4%.

Resolutions totaled $1.5 billion in September, compared with $1.6 billion in August; most of which were hotel ($425 million) and retail ($520 million), including two regional malls ($196 million).

New delinquencies were $614 million in September, consistent with the $610 million in August. Thirty-day delinquencies have fallen to $992 million from $1.9 billion.

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