The nationwide delinquency rate for commercial mortgages spiked in March, rising well past the 12-month average and to a five-month high. In its March 2012 U.S. Commercial Mortgage-Backed Security Delinquency Report, Trepp measured the delinquency rate to be 9.68 percent, up from 9.37 percent in February and 9.42 percent in March 2011.
Multi-family properties were responsible for much of the rise, as that sector’s delinquency rate rocketed 74 basis points to 15.39 percent. Meanwhile, office delinquency rates jumped 37 basis points from February to an all-time high of 9.41 percent. Hotels were the only property type to see a declining delinquency rate — falling 42 basis points to a 10.63 percent delinquency rate. At 8.24 percent, retail retained its title as the best performing commerical sector.
Read more...Trepp | Delinquency Rates | Commercial Loans | March 2012 via TheRealDeal.com
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