Loan performance on securitized commercial real estate loans was better across all property types, though late payments on loans secured by office properties improved most.
Mortgages that were past due at least 30 days accounted for 6.54 percent of all loans included in commercial mortgage-backed securities as of March.
That was according to performance data provided by Trepp LLC based on transactions it rates.
CMBS delinquency improved from 6.78 percent in February.
The 30-day delinquency rate sits far lower than in March 2013, when the CMBS rate was 9.50 percent.
Leading the rate lower in March was delinquency on loans secured by office properties, which declined 50 basis points from February to 6.73 percent.
A 46-basis-point drop was recorded for industrial property loans, with the rate sinking to 8.82 percent in March.
Hotel loans saw the rate of past-due payments improve 16 BPS to 6.46 percent.
Thirty-day delinquency on multifamily CMBS loans was down 13 BPS to 10.22 percent.
The smallest improvement was made on retail property loans, with the 30-day rate slipping 6 BPS to 5.71 percent as of March 31.