A nice improvement in the performance of securitized lodging and office loans was offset by deterioration on industrial, retail and multifamily loans.
The rate of 30-day past due payments on loans included in commercial mortgage-backed securities was 5.58 percent in March.
That was no different than the previous month but an improvement from March 2014, when the rate was 6.54 percent.
Trepp LLC provided the performance statistics
based on CMBS it rates.
Thirty-day delinquency on securitized lodging loans tumbled 31 basis points from February to 4.20 percent — the biggest improvement of any category.
An eight-basis-point decline on CMBS office loans left the 30-day rate at 6.06 percent as of the end of last month.
Offsetting falling lodging and office delinquency was the 30-day rate on securitized industrial property loans, which jumped 29 BPS from February to 7.68 percent.
Also mediating the overall rate were CMBS loans backed by retail properties, with the rate climbing 13 BPS to 5.51 percent in March, and multifamily loans, which had an eight-basis-point increase to 8.73 percent.
