Delinquency rates declined for commercial and multifamily mortgages held by banks and in commercial mortgage-backed securities (CMBS) during the third quarter, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report. The third-quarter delinquency rate for commercial and multifamily mortgages held by banks and thrifts was 2.83 percentage points lower than the series high of 6.58%, reached in the second quarter 1991.
The delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios was 7.34 percentage points lower than the series high (7.53%, reached during the second quarter of 1992); the rate for multifamily loans held by Fannie Mae was 3.05 percentage points below the series high (3.62%, reached during the fourth quarter of 1991); and the rate for multifamily loans held by Freddie Mac was 6.48 percentage points lower than the series high (6.81%, reached in the fourth quarter of 1992). The rate for loans held in CMBS was 0.10 percentage points below the series high (9.02%, reached in the second quarter of 2011).
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