Prices for commercial mortgage-backed securities loans rose in March, according to information from DebtX, a marketplace for CMBS loans.

The estimated price of whole loans securing U.S. CMBS loans increased to 91.4 percent as of March 31, up from 89.8 percent as of February 28. Loan values were 81.3 percent on March 31 last year.

"CMBS loan prices have broken through their recent highs," DebtX Managing Director Will Mercer said in a statement. "Given the essentially flat yield curve, the price increase was primarily driven by stronger loan-to-value ratios, which is encouraging."

While that’s good news for the investors that are buying and selling the loans, it could be short-lived as Fitch Ratings reports U.S. CMBS loan loss severities rose slightly year-over-year. Average loss severities rose slightly to 50.5 percent last year from 49.3 percent in 2011. Most loan workouts were for problem loans from the 2007 origination peak. Of the 742 loans that recorded losses, 239 were originated in 2007.

However, CMBS special servicers resolved 1,219 loans totaling $16.6 billion in 2012, a nearly 25 percent decline from 2011, when 1,620 loans totaling $19.6 billion were worked through by special servicers. Additionally, fewer loans were modified last year than in 2011. However, Fitch notes, a large part of those loan modifications may just be lenders kicking the losses down the road as the loans are so highly leveraged.