Commercial Loan Delinquencies Soaring

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

Read more from Reuters

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