The delinquency rate for loans held in U.S. commercial mortgage-backed securities (CMBS) fell 26 basis points to 9.51 percent in November, according to Trepp, LLC. That’s the second biggest drop recorded by the research firm this year, surpassed only by August’s 36 point drop. The rate has now fallen in four of the 11 months of 2011. Recent declines in CMBS delinquencies, however, likely aren’t the makings of a trend, according to Trepp’s analysts. They’re expecting increases in coming months as 2007 vintage loans start to reach their five-year balloon maturity dates. Article Feed