CMBS Delinquency Rate Inches Up to 4.71%

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The delinquency rate for commercial mortgage-backed securities (CMBS) rose by 5 basis points to 4.71% in February, according to data from Trepp Inc. One year ago, the U.S. CMBS delinquency rate was 3.12% – a 159 basis points difference.

Last month’s uptick was mostly fueled by office sector delinquencies, which spiked by 33 basis points to 6.63%. The only other sectors that recorded rising CMBS delinquencies was industrial real estate, with a three basis point rise to 0.43%.

At the other end of the spectrum, the retail delinquency rate dropped 24 basis points to 6.03% while the lodging delinquency rate inched down one basis point to 5.45% and the multifamily delinquency rate dropped 10 basis points to 1.81%.