Commercial Delinquencies Drop in 2Q: MBA
Delinquency rates for commercial and multifamily mortgages improved during second quarter, according to a report Thursday from the Mortgage Bankers Association.
The share of problem loans held in commercial mortgage-backed securities fell 45 basis points from the previous quarter, to 5.71%. Delinquencies for loans held by banks and thrifts declined 17 basis points, to 1.4%.
Meanwhile, the 60-day delinquency rate for multifamily loans held or insured by Fannie Mae remained unchanged at 0.1%. The same measure for Freddie Mac dropped two basis points, to 0.02%.
"Delinquency rates for CMBS loans continue to decline," said Jamie Woodwell, vice president of commercial real estate research, in a news release. "Among loans held on bank balance sheets, the 30-90 day delinquency rate is now the lowest in the series history, going back to 1993."