The overall delinquency rate for U.S. commercial real estate loans in commercial mortgage-backed securities (CMBS) rose for the first time in six months—but only by a single basis point, according to new data from Trepp LLC
The CMBS delinquency rate hit 3.42 percent in October, up from the post-crisis low of 3.41 percent set in September. One year ago, the rate was 5.21 percent.
Among the sectors within commercial real estate, the multifamily delinquency rate dropped by seven basis points to 1.88 percent; Trepp called the multifamily sector the best performing major property type. The retail delinquency rate increased 38 basis points to 5.39 percent, and Trepp added that retail was the worst performing major property type.