Last month, the rate of delinquency on securitized commercial real estate loans ascended to the highest level this year. Office loans led the rise.
Delinquency of at least
30 days on loans that are held in commercial mortgage-backed securities closed out September 2016 at 4.78 percent.
It turns out that 30-day delinquency has not been this high since December of last year, when the rate was previously reported at 5.17 percent.
Trepp LLC reported the performance data based on CMBS it rates.
The rate of past-due payments on CMBS loans deteriorated compared to one month previous, increasing by 10 basis points.
Still, despite the month-over-month rise in delinquency, the 30-day rate
has tumbled 50 BPS versus the same month last year.
Based on property type, securitized office building loans saw the most deterioration, with the 30-day rate surging 30 BPS from August to 6.33 percent.
Delinquency on lodging CMBS loans worsened 10 BPS to 3.25 percent in September.
An 8-basis-point increase in retail CMBS loan delinquency left the rate at 5.89 percent.
At 2.33 percent, multifamily delinquency was down 5 BPS from the previous month.
The past-due rate on securitized industrial property loans sank 29 BPS, leaving that rate at 5.28 percent as of last month.