Delinquency rates higher

"The delinquency rates of commercial loans in the Metropolitan Philadelphia area have steadily crept up during the last four quarters. Lodging appears to have taking the biggest hit and largest jump quarter over quarter, and multifamily second in line, according to data provided by Trepp Inc. Office and retail are also suffering but not at the pace as the other two property types.

Here’s a breakdown of the delinquency rate by property type for Philadelphia MSA for past four quarters. At the end of second-quarter 2009 the rates were: lodging 3.10 percent, multifamily 0.41, office 0.87 and retail 3.28; third-quarter 2009: lodging 3.0 percent, multifamily 0.53, office 1.21 and retail 3.85; at the end of fourth-quarter 2009, lodging rose to 3.9 percent, multifamily jumped to 8.66; office to 4.10 and retail to 3.94; at the end of the first quarter this year: lodging shot up to 11.19, multifamily increased to 9.15 percent, office slightly rose to 4.88 and retail climbed to 4.51."