The delinquency rate on loans underlying commercial mortgage-backed securities rose modestly in May after posting its lowest level in two years in April, data analytics firm Trepp said on Monday.
Trepp reported that the percentage of loans 30+ days delinquent or in foreclosure rose from 9.03% in April to 9.07% in May but is still below the 9.50% seen in March.
"The four basis point increase comes on the heels of a 47 basis point drop in April, which was also the biggest one month dip since Trepp began publishing the number in the fall of 2009," Trepp said, adding that the resolution of distressed CMBS loans was a "major factor" in the lower delinquency rate the past few months.
Read more...Trepp: US CMBS Delinquency Rate Ticks Up In May | MNI
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