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CMBS Delinquencies Continue Streak of Declines into 15 Months
The Trepp CMBS delinquency rate declined sharply in September with the latest number being a little over half the level seen at the peak of the COVID-19 pandemic, reported the analytics firm’s Manus Clancy.
The delinquency rate in September was 5.25%, a drop of 39 basis points from the August number. The percentage of loans currently 30 days delinquent is 0.24%, down 17 basis points for the month, Trepp reported.
“After two huge jumps in May and June 2020, the rate has now fallen for 15 consecutive months,” Clancy reported. “The September number represented another sizable decline, with the rate falling almost 1% over the last two months.”
By property type, the lodging sector maintains the highest delinquency rate. However, Trepp data show that over the past 12 months, it has also experienced the steepest decline in delinquencies, with the September 2021 rate about half that of a year earlier.
- ◦Financing
