CMBS delinquency rate increases slightly in April
The CMBS delinquency rate inched up in April for the second consecutive month after significant decreases in January and February, according to Trepp. The delinquency rate is now 4.23 percent, a 1 basis point increase from March. The rate is 134 basis points lower than the year-ago level, when it was 5.57 percent.
Approximately $450 million in previously delinquent loans were paid off in April and more than $600 million in loans were cured; however, the rate was driven up by the approximately $1.1 billion in newly delinquent loans. There is currently $21.2 billion in delinquent loans.
Multifamily loans continue to be the best-performing property