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CMBS delinquency rate drops slightly in October
The CMBS delinquency rate decreased for the second consecutive month in October, according to Trepp, falling by 5 basis points to 5.23 percent. The rate is now 91 basis points lower than one year ago and 52 basis points lower year-to-date. There were $1.4 billion of newly delinquent loans in October, while $1.2 billion in previously delinquent loans were paid off at par or with a loss, and approximately $400 million in loans cured. The percentage of seriously delinquent loans fell 5 basis points to 5.10 percent. Currently $27 billion in loans stand delinquent.