Slight month-over-month deterioration was recorded for securitized commercial real estate loans, and office building loans led the way.
Sixty-day delinquency on loans that are included in commercial mortgage-backed securities finished September 2016 at 3.18 percent.
CMBS loan delinquency moved higher compared to one month previous, when the 60-day past-due rate worked out to 3.15 percent.
Fitch Ratings, which released the performance data Monday, explained that the month-over-month deterioration was “largely due to a shrinking index denominator.”
But CMBS borrowers have made progress versus one year previous, when the delinquency rate on securitized CRE loans was 4.46 percent.
The 60-day rate on office building loans was 4.68 percent as of last month, ascending from August by 13 basis points — the worst month-over-month deterioration of any property type.
On industrial property loans included in CMBS, delinquency jumped 12 BPS to 4.17 percent as of Aug. 31.
At 3.88 percent, late payments on securitized hotel loans were 3 BPS worse than in the previous report.
There was no change in the 60-day rate on multifamily loans, with the rate remaining at 0.79 percent.
A 2-basis-point decline was recorded for late payments on retail CMBS loans, with
that rate closing out September 2016 at 4.77 percent.
The best improvement in Fitch’s report was made by mixed-use properties, with the rate retreating 7 BPS to 3.94 percent.
