CMBS Delinquency Rate Down for Fifth Consecutive Month
December 5, 2017
The delinquency rate for commercial real estate loans in commercial mortgage-backed securities (CMBS) was 5.18 percent in November, down three basis points from October, marking the fifth straight month in which the reading has dropped, according to new data from Trepp LLC. This five-month winning streak is the second-longest measured in the last eight years. One year ago, the delinquency rate was 5.03 percent.
The percentage of loans that are seriously delinquent was 5.01 percent in November, down 11 basis points for the month. If defeased loans were taken out of the equation, the overall 30-day delinquency rate would be 5.30 percent, a four-basis-point drop from the previous month.
Among property types, the multifamily delinquency rate dropped 27 basis points to 2.71 percent, and Trepp stated that apartment loans were the best performing major property type for the month.
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