On a quarter-over-quarter measurement, the MBA found delinquency rates for banks and thrifts at 0.56 percent, down 0.04 percent. For life company portfolios, the rate was 0.02 percent, a decrease of 0.02 percentage points. The CMBS delinquency rate was 4.45 percent, a decrease of 0.08 percentage points, and the delinquency rates for Fannie Mae and Freddie Mac were both unchanged at 0.05 percent and 0.03 percent, respectively. Construction and development loans are not included in the data.
“Delinquency rates for commercial and multifamily mortgages remained at or near record lows for most capital sources during the first quarter,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. “Growth in property incomes and property values, coupled with low interest rates, have facilitated financing. As we near the end of the second quarter, the industry has largely worked through the so-called ‘wave of maturities’.”