For two consecutive months now, the rate of late payments on securitized commercial real estate loans deteriorated from a month earlier.
As of April 30, delinquency of at least 30 days on loans that are included in commercial mortgage-backed securities was
4.23 percent.
The past-due rate
crept up from the previous month, when it was 4.22 percent. It was the second month in a row delinquency deteriorated.
Trepp LLC reported the performance statistics based on mortgage securities it rates.
But an improvement has been made in the CMBS 30-day rate compared to the same month last year, when delinquency came in at 5.57 percent.
Leading the overall rate higher were securitized lodging loans, which jumped 11 basis points from March to 2.87 percent.
Thirty-day delinquency on office building CMBS loans rose 7 BPS to 5.30 percent.
The rate on securitized industrial property loans worsened by 4 BPS to 5.95 percent.
On CMBS loans secured by multifamily properties, the 30-day rate fell 2 BPS to 2.32 percent.
A 13-basis-point decline put retail property loan delinquency at 5.20 percent at the end of last month.
