Research - MARCH 3, 2021

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Trepp CMBS delinquency rate plunges in February for eighth monthly decline

by Released

The Trepp CMBS Delinquency Rate in February was 6.8 percent, a decline of 78 basis points from the January number, which is the biggest drop over the last eight months. The percentage of loans in the 30 days delinquent bucket is 0.58 percent, which is down 16 basis points for the month.

“The acceleration of the improvement in the delinquency rate, with retail and lodging both showing notable declines, can be seen as a positive sign for the market,” said Catherine Liu, Trepp associate research manager. “This could be a reflection of continued vaccination progress, fiscal stimulus spending, and the strong economic growth we are currently seeing in the first quarter,” Liu said.

In terms of loans in grace period, 2.3 percent of loans by balance missed the February payment but were less than 30 days delinquent. That was down 77 basis points for the month.

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