Just one month after delinquency on securitized commercial real estate loans jumped more than it had in years, it fell by nearly the same amount. Apartment loans, which fared worst last month, fared best this month.
The rate of 30-day delinquency on loans that are included in commercial mortgage-backed securities concluded July 2017 at 5.49 percent.
CMBS delinquency sank by 26 basis points compared to the preceding month, when the rate had moved higher for the third month in a row. The 28-basis-point increase in June was the highest since 2012.
But historical data from Trepp LLC, which released the latest statistics Monday, indicate that 30-day CMBS delinquency still stands 26 BPS worse than at the same point last year.
The most improvement was with CMBS loans secured by multifamily properties, with the 30-day rate plunging 101 BPS from June
to 2.91 percent. Multifamily delinquency had soared 110 BPS last month.
Delinquency on securitized industrial property loans sank 61 BPS to 6.96 percent as of July 31, 2017.
The 30-day rate on office building CMBS loans tumbled 43 BPS from June 30 to 7.24 percent.
A 2-basis-point improvement was reported for securitized retail property loans, which finished this month at 6.63 percent.
Only CMBS loans secured by lodging properties saw deterioration, with the 30-day rate rising 15 BPS to 3.68 percent as of today.
