Performance on securitized commercial real estate loans saw a slight decline last month, with apartment loan experiencing the biggest improvement.
Delinquency of at least 60 days on loans included on commercial mortgage-backed securities was
4.53 percent in July.
The rate of CMBS delinquency slipped a single basis point from the previous month.
The findings were reported by Fitch Ratings based on the roughly $377 billion in CMBS that it rates.
The biggest improvement from June was made with securitized multifamily loans, with the
60-day rate tumbling 10 BPS to 4.90 percent.
On mixed-use CMBS loans, the rate fell seven BPS to 3.61 percent in July.
After that were retail property loans, which saw a three-basis-point decline from June to 5.41 percent.
A four-basis-point increase in the 60-day rate on securitized office property loans left the rate at 4.73 percent.
Hotel loan delinquency jumped 14 BPS from the previous month to 5.34 percent.
The worst month-over-month increase came from securitized industrial property loans, which saw the 60-day rate surge 22 BPS to 4.87 percent in July.
