Trepp: CMBS Delinquencies Break 17-Month Decline

The rate of delinquencies in U.S. commercial mortgage-backed securities increased in December, breaking a 17-month string of declines that began after the worst of the COVID-19 downturn took hold in early 2020.

According to the commercial realty analytics firm Trepp, delinquencies soared in May and June 2020, but quickly began to improve and held through most of 2021. The December delinquency rate of 4.57 percent was 19 basis points higher than November’s reading, driven by year-end delinquencies involving several large office properties. The percentage of loans in the 30 days delinquent bucket is 0.49%, up 24 basis points for the month.