The delinquency rate on commercial mortgage-backed securities improved further last month, with hotel loans leading the way.
As of December,
CMBS loans that were past due at least 30 days accounted for 5.75 percent of all such loans, according to Trepp LLC.
The rate improved from the previous month’s 5.80 percent
— at the time the lowest rate in five years.
In December 2013, 7.43 percent of securitized commercial real estate loans were delinquent.
Last month’s biggest improvement was made on securitized lodging loans, with the 30-day rate falling 20 basis points from November to 4.77 percent.
A 13-basis-point decline left the office property loan delinquency rate at 6.08 percent.
At 5.66 percent in December, delinquency on retail property loans was off a basis point from a month earlier.
The past-due rate on multifamily loans crept up 2 BPS to 8.85 percent.
Industrial property CMBS loans had the most deterioration, with the 30-day rate rising 6 BPS to 7.55 percent
last month.
