CMBS Delinquency Rate Falls Again

Feb 01, 2018

Moody’s Analytics has launched the Real Estate Information Services (REIS) Network

The Trepp CMBS Delinquency Rate dropped again in January, as the rate has now fallen in seventh straight months.

The delinquency rate for commercial real estate loans in commercial mortgage-backed securities fell to 4.83 percent in January, a decrease of six basis points (bps) from the December level and 35 bps below the January 2017 level, according to new data from Trepp LLC. January marked the seventh consecutive month that the rate has declined.

The percentage of loans that are seriously delinquent is now 4.72 percent, down 11 bps for the month. If defeased loans were taken out of the equation, the overall 30-day delinquency rate would be 4.95 percent, down five bps from December.

Within the commercial real estate sectors, the multifamily delinquency reading dropped 28 basis points to 2.08 percent, with Trepp crediting apartment loans as being the best performing major property type. The most dramatic swings in delinquency involved the delinquency reading for hotel loans, which climbed 69 bps to 4.51 percent, and the office delinquency rate, which dropped by 56 bps to 5.84 percent.

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Phil Hall

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Feb 01, 2018

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