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MBA Sees Further Decline in CRE Loan Delinquencies During Q3
Commercial and multifamily mortgage delinquencies declined in the third quarter of 2021, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Delinquency Report. Q3 delinquency rates ranged from a low of 0.12% for Freddie Mac to a high of 4.86% for CMBS, which registered a decline of 0.82 percentage points from Q2 levels.
“Commercial mortgage delinquency rates for every major capital source have come down since the early months of the pandemic,” said Jamie Woodwell, MBA’s VP of commercial real estate research. “With low numbers of loans becoming newly delinquent, much of the declines are coming from the resolution of loans with later-stage delinquency statuses.
“Despite successive waves of COVID-19, the economy has shown solid growth, and it is hard to imagine a return to the extraordinary shutdowns in early 2020 that negatively impacted some sectors of commercial real estate,” he continued.
- ◦Financing
