Looking for a bit of good news in CRE financing and loans? According to Trepp, there's something to be found in CMBS.
The Trepp CMBS Delinquency rate fell modestly again in December 2023, it reported, by seven basis points to 4.51%. And, maybe more surprising, in the office property type, the delinquency rate dropped 26 basis points to 5.82%. "If we included loans that are beyond their maturity date but current on interest, the delinquency rate would be 5.49%, down nine basis points from November," the firm said.
The percentage of loans that are 30-days delinquent or lower was 0.23%, or a nine basis-point fall from November. For 90-day delinquency, the rate was 0.49%.
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