OREANDA-NEWS. U.S. CMBS delinquencies finished 2015 down 17% from year-end (YE) 2014, according to the latest index results from Fitch Ratings.

CMBS delinquencies finished the year at 4.02%, 14 basis points (bps) lower from the previous month and a 60 bp-drop from 4.62% one year ago. This is the lowest level seen since October 2009. Resolutions again outpaced new delinquencies in 2015, ending the year at $8.5 billion and $5.6 billion, respectively, compared to $11.5 billion and $6.5 billion, respectively, in 2014.

The delinquency rate for CMBS 1.0 will continue to face pressure from approximately $62 billion of loans expected to mature in 2016 and $73 billion in 2017. However, Fitch projects delinquencies to fall between 2.5% and 3% by the end of 2016. This after factoring in the ultimate resolution of the Peter Cooper Village/Stuyvesant Town and Riverton Apartments assets and assuming continued strong new issuance this year.

Current and previous delinquency rates are as follows:

--Retail: 5.20% (from 5.27% in November and 5.37% at YE 2014);
--Office: 4.61% (from 4.71% and 5.01%, respectively);
--Hotel: 3.82% (from 4.23% and 6.20%);
--Multifamily: 4.19%* (from 4.27% and 5.22%);
--Industrial: 3.88% (from 4.38% and 5.25%);
--Mixed Use: 2.73% (from 2.99% and not calculated at YE 2014);
--Other: 0.89% (from 0.90% and 1.15%).