A modest improvement was made on securitized commercial real estate loan performance, and the decline was most pronounced on healthcare property loans.
Delinquency of at least 30 days on loans included in commercial mortgage-backed securities was at 4.34 percent in August.
The rate of CMBS delinquency improved by just a single basis point when compared to the previous month’s rate.
But loan CRE loan performance has shown a substantial improvement compared to the same month last year, when the rate was 6.16 percent.
The statistics were reported by Morningstar Credit Ratings LLC based on the $763.46 billion in CMBS it rates.
On a dollar basis, $33.1 billion in Morningstar-rated CMBS loans were past due, worsening from $32.6 billion in July. It was the second consecutive monthly increase.
The 30-day rate was 2.6 percent on health care loans, a 20-basis-point improvement from July — the biggest month-over-month decline of any CMBS loan type.
Multifamily delinquency slipped 10 BPS to 2.5 percent in August.
No change from July left the 30-day rate at 6.2 percent on office loans and 5.2 percent on retail property loans.
The 30-day rate on hotel loans moved up 10 BPS to 4.8 percent last month.
Industrial property loan delinquency rose 30 BPS to 7.2 percent.
