For the first time in five months, Trepp LLC’s commercial mortgage-backed securities (CMBS) delinquency rate increased–albeit by only basis point.
The March rate registered 2.88 percent, compared to its post-recession low of 2.87 percent in February. This was also the second uptick within the last 12 months–and, for the record, the rate 12 months ago was 4.55 percent.
Among the property sectors, the lodging delinquency rate moved up 11 basis points to 1.60 percent, and Trepp pegged this sector as the best performing major property type. The multifamily delinquency rate declined 30 basis points to 2.01 percent, while the retail sector rate rose 13 basis points to 4.90 percent–Trepp named retail as the worst performing major property type for March.