The commercial mortgage-backed securities (CMBS) delinquency rate recorded a 15-basis-point uptick to 4.66% in January, according to data from Trepp Inc. Year-over-year, the overall CMBS delinquency rate was up by 172 basis points from 2.94%.
The percentage of loans that was 30 days delinquent was 0.24%, up one basis point for the month, while the share that was 60 days delinquent was 0.09%.
The beleaguered office sector saw the greatest increase since September 2023 with a 48-basis-point spike to 6.30%. The lodging delinquency rate rose 6 basis points to 5.46%.
On the flip side, the multifamily segment experienced the greatest decline with a 71-basis-point plummet to 1.91% – that tumble was attributed to a large 2019 single-asset, single-borrower apartment loan in San Francisco that was disposed in January. The industrial delinquency rate fell 17 basis points to 0.40% while the retail delinquency rate dropped 20 basis points to 6.27%
