U.S. CMBS delinquencies rose in March by a measly 3 basis points bringing the delinquency rate to a still microscopic 0.33 percent. So far, commercial real estate has been weathering the credit crunch quite well. There's belief in the market that delinquencies will rise more than this. But the predictions of massive delinquencies and defaults don't seem to be coming true. At least not yet.