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CMBS delinquency inches up after two months of significant drops

by Zoë Wolff

After dropping 82 basis points in January and another 20 basis points in February, the CMBS delinquency rate has inched up 7 basis points in March to 4.22 percent, according to Trepp. The rate is down 136 basis points from one year ago, when it was 5.58 percent.

More than $700 million in previously delinquent loans were paid off in March and more than $600 million in loans were cured; however, the approximately $1.7 billion in newly delinquent loans is what drove the rate up. There is currently $21.2 billion in delinquent loans.

Multifamily property loans have gone from the worst delinquency rate of 8.28 percent at the end of 201

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