Past-due commercial real estate loans accounted for a slightly smaller share of the overall securitized CRE loan population last month, with industrial property loans faring best.
As of Aug. 31, the rate of 30-day delinquency on loans included in commercial mortgage-backed securities was 3.61 percent.
Based on the oldest data maintained by Mortgage Daily, the CMBS 30-day rate hasn’t been this low since at least June 2010, when it stood at 7.70 percent.
Morningstar Credit Ratings LLC reported the data. The findings reflect performance on $797 billion in securities rated by Morningstar.
CMBS delinquency, which includes foreclosures, was off a single basis point compared to the end of the previous month.
The improvement was more substantial versus the same month last year, when the 30-day rate was 4.21 percent.
Delinquency on industrial property loans improved the most, falling 16 BPS from July to 5.60 percent.
On hotel loans, the 30-day rate was down 14 BPS to 3.04 percent in August.
After that were retail property loans, with delinquency declining eight BPS to 4.96 percent.
Next was the rate on office property loans, which fell four BPS to 5.54 percent.
On multifamily loans, 30-day delinquency was unchanged from the previous month at 1.93 percent.
Thirty-day delinquency on health care property loans worsened five BPS to 3.20 percent as of last month.
