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CMBS delinquencies hit 2-year high in December: Trepp

The Trepp CMBS Delinquency Rate moved sharply higher in December, with the new rate hitting its highest level in 14 months. The delinquency rate for US commercial real estate loans in CMBS is now 5.23%, an increase of 20 basis points from November. The delinquency rate has now moved higher in nine of the last 10 months, and all of the gains from early 2016 have been reversed. The rate is now at its highest level since October 2015.

The Numbers:

 

• The overall U.S. CMBS delinquency rate increased 20 basis points to 5.23%.

 

• The percentage of loans that are seriously delinquent (60+ days delinquent, in foreclosure, REO, or non-performing balloons) is now 5.08%, 13 basis points higher for the month.

 

• If defeased loans were taken out of the equation, the overall 30-day delinquency rate would be 5.46%, up 20 basis points from November.

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