While it wasn’t by much, the rate of past-due payments on securitized commercial real estate loans managed to move lower this month.
While July isn’t yet over, the performance metrics are in — and delinquency of at least 30 days on commercial mortgage-backed securities loans was 6.04 percent. The delinquency data was based on CMBS rated by Trepp LLC.
The rate, which was a single basis point less than in June, has declined each month since May 2013 — when it stood at 9.07 percent.
Although new delinquencies added 23 BPS to July’s 30-day rate, that was more than offset by 11 BPS in loan resolutions and 13 BPS in cured loans.
A 244-basis-point reduction in the delinquency rate has been made from July 2013.
The past-due CMBS rate on industrial property loans turned in the biggest improvement — tumbling 50 BPS from June to 7.89 percent.
A 20-basis-point decline in 30-day delinquency on lodging loans left the rate at 5.19 percent for July.
At 9.24 percent, multifamily delinquency was 15 BPS less than a month earlier.
But the 30-day rate on office loans included in CMBS moved 8 BPS higher to 6.52 percent.
The worst performing category was retail property loans, which saw the rate of late payments deteriorate by 10 BPS to 5.53 percent.
