More than 6% of securitized commercial real estate mortgages are 30 days or more past due, according to a new report issued by Trepp LLC. It marks the first time in the history of commercial mortgage-backed securities that the delinquency rate is above 6%, said Trepp. The New York firm tracks CMBS and issues monthly reports. The delinquency rate jumped to 6.07% in December, up 171 basis points from the end of the third quarter. A year ago, the 30-day or more delinquency rate was 1.21%. The December report also shows that multifamily delinquencies reached 9.27%, a 49 bps increase from November. A year ago, the delinquency rate on multifamily CMBS was 2.82%.
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