Research - JANUARY 5, 2017

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CMBS delinquency rate up 20 basis points in December

by Jody Barhanovich

The U.S. CMBS delinquency rate moved sharply higher in December, according to Trepp. The delinquency rate for U.S. commercial real estate loans in CMBS is now 5.23 percent, an increase of 20 basis points from November, making it the highest delinquency rate level in 14 months.

The year began on a positive note, as the delinquency rate fell 102 basis points over the first two months of the year. At one point this year, the rate reflected a year-over-year improvement of 143 basis points. However, the rate is now 6 basis points higher than the year-ago level, where it was at 5.17 percent. The rate hit a multi-year low of 4.15 percent in February 2016. The all-time high was 10.34 percent in July 2012.

Broken down by property type, office showed the biggest increase in delinquency among major property

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