WASHINGTON, DC—Delinquencies on commercial and multifamily mortgage loans remained flat or decreased in the first quarter, the Mortgage Bankers Association said Thursday. Among the major capital sources, all but CMBS come in below 1%, according to MBA figures.
“Growth in property incomes and property values, coupled with low interest rates, have facilitated financing,” helping to keep delinquencies “at or near record lows” for most capital sources, says Jamie Woodwell, VP of commercial real estate research at MBA. “As we near the end of the second quarter, the industry has largely worked through the so-called 'wave of maturities'.”
Each capital source uses a different yardstick to measure delinquency rates, and MBA does not aim to compare apples to oranges, instead presenting the rates as each source presents them. Nor are construction and development loans included in the totals. Life insurers claim the lowest rate of commercial and multifamily mortgage delinquencies of 60 days or more at 0.02% for Q1, a decline of 0.02 percentage points from Q4 2016.
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Paul Bubny
Paul Bubny is managing editor of Real Estate Forum and GlobeSt.com. He has been reporting on business since 1988 and on commercial real estate since 2007. He is based at ALM Real Estate Media Group's offices in New York City.
