CMBS delinquency rate rises 6 bps in March
The U.S. CMBS delinquency rate, which has been moving steadily higher during 11 of the past 13 months, continued its climb in March, according to Trepp. The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.37 percent, an increase of 6 basis points from February.
The rate is now 115 basis points higher than the year-ago level, and 14 basis points higher year-to-date. The reading hit a multi-year low of 4.15 percent in February 2016. The all-time high was 10.34 percent in July 2012.
Rising delinquency rates for the industrial, retail and lodging property types helped push the rate higher in March, with industrial loan delinquencies rising 109 basis points to 7.03 percent, retail loan delinquencies rising 19 basis points to 6.12 percent and lodging loan delinquencies rising 27 basis points to 3.7 percent. The CMBS delinquency readings for office and multifamily loans f