NEW YORK, Nov 30 (Reuters) – The default rate for commercial real estate loans held by banks reached the highest in 16 years and the outlook looks worse, according to a report by a research firm released on Monday.
* Commercial real estate bank-loan defaults hit 3.4 pct
*Real estate bank loan defaults may peak at 5.3 pct
* CMBS defaults reach 4.01 pct in October
* CMBS defaults could top 8 pct in 2010
The picture for loans underlying commercial mortgage-backed securities looks as bleak, according to another report
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