Monthly performance on securitized commercial real estate loans improved again last month, and the rate of delinquency now stands at a new post-crisis low.
On loans that are held in commercial mortgage-backed securities, delinquency of at least 30 days, including foreclosures and real estate owned, was 2.06 percent as of mid-2018.
The rate improved versus one month previous, when it was already a record-low 2.15 percent. Compared to the same month in 2017, CMBS delinquency has plummeted 98 basis points.
Those data were delivered Tuesday by Morningstar Credit Ratings LLC based on the $753.00 billion in CMBS it rates.
“While legacy CMBS now accounts for less than 4 percent of the CMBS universe, delinquencies from deals issued before 2010 represent 86.4 percent of all delinquencies by balance,” the report said. “Comparatively, delinquencies from deals issued from 2010 through 2018 contribute 13.6 percent of all delinquencies and represent 0.3 percent of the CMBS universe.”
