CRE Mortgage Delinquencies Posted Mixed Results in Q2 2026

Commercial mortgage delinquencies were mixed in the second quarter of 2026, according to the Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report. CMBS delinquencies improved by 42 basis points to 6.53%; bank delinquencies ticked downward by four bps to 1.20%; and life company, Fannie Mae and Freddie Mac delinquencies all increased, albeit modestly.

Even with the increases, delinquencies among life company and GSE commercial mortgages all remain below 1%. Life company loans posted the lowest Q2 2026 delinquency rate at 0.48, with Fannie Mae at 0.60% and Freddie Mac at 0.51%.

Looking specifically at multifamily mortgages, “Multifamily continues to face a tough combination of higher interest rates and challenging market fundamentals, with flat or declining effective rents in a number of markets,” said Reggie Booker, MBA’s associate VP of commercial research. “Conditions vary widely by market and property, with some owners refinancing successfully, while others are struggling to find financing. Additionally, delinquencies on multifamily loans are higher than in the recent past, though still in the middle of the historical range for the GSEs.”

Read More News Stories About: Mortgage Bankers Association

Connect

Inside The Story

Mortgage Bankers Association

About Paul Bubny

Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 16-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 7-10 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

Order Reprints