Commercial real estate (CRE) loan refinancing activity was better than anticipated in the first five months of 2024, driven by outperformance of retail loans secured by anchored and shadow-anchored properties and conduit multifamily loans, Fitch Ratings says in its U.S. CRE Loan Refinancing and Delinquency Forecast – 1H24 report. This, combined with an improved U.S. macro-credit outlook and our expectations for increased new issuance, has led to a downward revision of our U.S. CMBS loan delinquency forecast, to 3.7% in 2024 and 4.2% in 2025, respectively, from 4.5% and 4.9% at the start of 2024. Delinquencies, which ... (full story)