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 2
