Moody’s CMBS delinquencies hit 5.42%

According to Moody's Investors Service, the delinquency rate for Commercial Mortgage Backed Securities (CMBS) hit 5.42% in January.

The rate rose to 5.42% last month from 4.9% the previous month as another 409 loans became delinquent, according to Moody's Delinquency Tracker. "We continue to expect loan performance to deteriorate further in 2010," added managing director Nick Levidy.

The hotel delinquency rate grew the most in January, to 9.82%, followed by retail loans (5.24%, up 72 basis points since December.

The smallest increase was in loans backed by office properties. That segment also has the lowest delinquency rate, 3.53%.

The total delinquent balance is now more than $36 billion, a $3 billion increase over the month before.

DOW down 45 points today and the S and P 500 down 2.96
The following REIT ETFs were all green today:
IYR +$.39
RWR +$.44
VNQ +$.49
Fund managers...so much for fiscal responsibility, but hey, it is not their money.