Delinquency rates for commercial mortgage-backed securities improved slightly in July, according to a report released Wednesday by Trepp.

The financial research firm reported a delinquency rate of 6.04%, a one-basis-point decline from the previous month. Delinquencies totaled $32.1 billion for July.

Strong performance among industrial properties boosted the overall rate. Industrial delinquencies dropped 50 basis points from the previous month, to 7.89%.

Multifamily apartment buildings had highest delinquency rate, at 9.24%. Lodging properties had the lowest rate, at 5.19%.

The percentage of loans considered "seriously delinquent," meaning more than 60 days overdue, dropped four basis points to 5.88%.

On a year-over-year basis, delinquencies declined by 244 basis points.

Subscribe Now

Authoritative analysis and perspective for every segment of the mortgage industry

30-Day Free Trial

Authoritative analysis and perspective for every segment of the mortgage industry