Wednesday, October 14, 2009

It's coming folks..........

Oct. 13 (Bloomberg) -- Late payments on commercial mortgages bundled into bonds jumped 41 basis points in September from August, the largest monthly increase on record, according to Moody’s Investors Service.

The 3.64 percent delinquency rate compares with 0.54 percent a year ago [that's hmmmm 7-fold], the New York-based ratings company said in a statement today.

“After tapering off for two months, the delinquency tracker appears to have resumed an upward trend as expected,” Nick Levidy, a Moody’s analyst, said in the statement. “The delinquency rate is likely to continue moving higher over the next several months as troubles compound in the commercial real estate sector.”

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