December's delinquency rate for commercial mortgage-backed securities fell five basis points from November, and the year ended with a rate of 5.75%, reports Trepp. The delinquency rate could improve further or rise this year, depending on 10-year Treasury rates and the loans reaching maturity in the near term, says Manus Clancy, Trepp's senior managing director.
The delinquency rate for commercial mortgage-backed securities reached 6.27% in May, a drop of 17 basis points from April, according to Trepp. May marked the 12th consecutive monthly improvement for the CMBS delinquency rate. "The CMBS market continues to just plug along nicely," says Manus Clancy, senior managing director at Trepp.
Delinquency rates for commercial mortgage-backed securities rose 51 basis points in July after dropping in May and June, according to Trepp. The delinquency rate climbed to 9.88%, the highest ever for CMBS.
The delinquency rate for commercial mortgage-backed securities reached 9.05% of $694 billion in mortgages backing outstanding CMBS, according to Trepp. At the beginning of the year, the rate was 6.49%.