Securitized mortgages saw the largest quarterly decrease in delinquency among a variety of investor types for commercial real estate loans.
As of the first quarter of this year, delinquency of at least 30 days on loans included in commercial mortgage-backed securities was 3.93 percent.
That turned out to be a 15-basis-point improvement when compared to the previous three-month period and a 52-basis-point drop versus the same period last year.
The Mortgage Bankers Association reported the data in its Commercial/Multifamily Mortgage Delinquency Rates for Major Investor Groups | Q1 2018.
Trepp LLC recently reported that 30-day CMBS delinquency as of May 31 has fallen fallen another 43 BPS since the end of March.
On CRE loans held by life insurance companies, the 60-day rate dipped 1 basis point from the fourth-quarter 2017 to 0.02 percent. The rate was unchanged, though, from the first-quarter 2017.
On Fannie Mae multifamily loans, 60-day delinquency was 0.13 percent at the end of this year’s first quarter, up 2 BPS from three months earlier and 8 BPS worse than a year earlier.
Washington-based Fannie reported that multifamily delinquency finished April at 0.13 percent.
At rival Freddie Mac, 60-day multifamily delinquency finished March 2018 at 0.02 percent, the same as in the final quarter of last year and a basis point less than at the same point last year.
April finished with Freddie’s delinquency rate at 0.01 percent.
MBA’s report had 90-day CRE delinquency at banks and thrifts at 0.51 percent, the same as the prior quarter but down from 0.56 percent in a year prior.
“Delinquency rates are at or near their all-time lows across most capital sources,” Jamie Woodwell, MBA’s vice president of commercial real estate research, said in an accompanying statement. “This continues to be driven by strong property fundamentals, increasing property values, still-low mortgage rates and readily available financing.”
