NEW YORK CITY—CMBS delinquencies declined again in January, marking the seventh consecutive month of improvement, Trepp LLC said Wednesday. The delinquency rate for US securitized commercial mortgages is now 4.83%, a decrease of six basis points from December and 35 bps from a year ago.

“The delinquency rate has now decreased in each month since June 2017,” Trepp reported Wednesday. “At the time, we predicted that further rate declines were possible in the following months as the Wall of Maturities neared its end. We stand by that call and believe that further reductions could be in the cards in the coming months.”

In fact, new delinquencies outnumbered resolutions in January. Nearly $1.35 billion in loans became newly delinquent during the month, compared to about $800 million of loans that were resolved at par or at a loss, and another $290 million of loans that were cured. However, Trepp says the surge of new CMBS issues in the second half of '17 helped increase the number of performing loans substantially.