Of the five major commercial property types, CMBS [Commercial Mortgage-Backed Security] multifamily delinquencies are the highest, an aberration that’s not representative of the broader multifamily market, according to analytics firm Trepp.
Just two months after matching its lowest reading in a year, the nation’s overall CMBS delinquency rate reversed course, jumping 12 basis points in April to 9.8%, the second highest rate ever, according to Trepp.
Trepp Managing Director Matthew Anderson tells HousingWire “the delinquency rates for bank multifamily loans have been much lower and have recovered more than all other commercial (non-residential) loans.”
However, multifamily CMBS delinquency rate remains the worst property type with at rate of 15.18%, Trepp finds: …
Read the whole article: Trepp: High CMBS multifamily delinquency rate unusual | HousingWire.