The default rate on commercial mortgages held by U.S. banks more than doubled in the second quarter from a year earlier amid falling rents and occupancies for malls, office buildings and warehouses.

Loans that were 90 days or more past due climbed to 2.88% of outstanding balances in the second quarter, from 1.18% a year earlier, according to data released by Real Estate Econometrics LLC. Defaults increased from 2.25% in the first quarter.

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