Office Delinquencies Near Record High in March

Fitch Ratings’ overall U.S. CMBS delinquency rate increased 15 basis points to 3.43% in March from 3.28% in February, driven by a surge in new large-balance office delinquencies that outpaced resolutions. The increase was partially offset by new issuance volume totaling $17.6 billionin February. Four of the five largest new delinquencies in March were office loans, pushing...