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MBA Sees Increase in Commercial Mortgage Delinquencies During Q1 2026

Delinquency rates for mortgages backed by commercial properties increased during the first quarter of 2026. That’s according to the Mortgage Bankers Association’s (MBA) latest commercial real estate finance (CREF) Loan Performance Survey.

The share of loans in delinquency increased for some property types, particularly office, lodging, retail and multifamily, but decreased for industrial. Among capital sources, CMBS loan delinquency rates saw the highest levels at 5.21%.

“Commercial mortgage delinquency rates increased to 4.02% in Q1 2026 compared to 3.86% in the previous quarter,” said Judie Ricks, MBA’s associate VP of commercial real estate research. “The data show a gradual but persistent increase in delinquency rates in the overall market. In the most recent quarter, there were increases in short-term delinquency for all property types, except industrial, with some of the largest increases coming from multifamily, office, and healthcare properties.”

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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).

  • ◦Financing
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