The see-saw activity in delinquency on securitized commercial real estate loans continued this month, with the latest gyration being on the up cycle.
During August, the rate of 30-day delinquency on loans included in commercial mortgage-backed securities was 5.45 percent.
That was three basis points worse than in the prior month, when the rate moved down three BPS.
The statistics were reported by Trepp LLC based on CMBS it rates.
But delinquency on securitized CRE loans has improved compared to the same month in 2014, when the 30-day rate was 6.10 percent.
The latest level of delinquency reflects $28.4 billion in past-due mortgages — putting the Trepp-rated universe at an estimated
$521 billion.
Multifamily loans led this month’s increase, with the 30-day delinquency rate soaring 23 BPS from July to 8.99 percent.
Securitized industrial property loans came in at a 7.62 percent rate in August, climbing 21 BPS from a month earlier.
A two-basis-point increase from July left the 30-day rate on retail property loans at 5.53 percent.
Moving the other direction was the late-payment rate on office property loans, which fell seven BPS to 5.86 percent in August.
Also declining was delinquency on securitized lodging loans, falling 26 BPS on a month-over-month basis to 3.44 percent.
