Commercial and Multifamily Delinquency Rate Holds Steady

Nov 30, 2017

The delinquency rates for commercial and multifamily mortgages held steady between the second and third quarters, and delinquency rates for loans held in bank portfolios reached a 24-year low, according to the latest Mortgage Bankers Association (MBA) Commercial/Multifamily Delinquency Report.

At the end of the third quarter, the delinquency rates at banks and thrifts (90 or more days delinquent or in non-accrual) was 0.52 percent, a decrease of 0.02 percentage points from the second quarter. The delinquency rate at life company portfolios (60 or more days delinquent) was 0.02 percent, a decrease of 0.02 percentage points from the second quarter.

The rates at Fannie Mae and Freddie Mac (60 or more days delinquent) were 0.04 percent and 0.02 percent, respectively, both down 0.01 percentage points from the second quarter. And the rate at commercial mortgage-backed securities (30 or more days delinquent or in REO) was 4.61 percent, a decrease of 0.23 percentage points from the second quarter. Construction and development loans are not included in the data.

"It is hard to imagine commercial and multifamily mortgages performing better than they are today," said MBA Vice President of Commercial Real Estate Research Jamie Woodwell. "Strong property fundamentals and values and ready credit availability are all helping contribute to this extraordinary performance."

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Phil Hall

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Nov 30, 2017

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