Once again, the overall commercial mortgage-backed securities (CMBS) delinquency rate rose. December 2024 brought another 17 basis points to 6.57%. Four property-type sectors saw changes of 40 basis points or more.
Three of the four saw increases. Retail delinquency rose from November to December by 86 basis points to 7.43%. The second-highest increase was in office, which rose 63 basis points to an all-time high of 11.01%. Multifamily had the third-largest increase of 40 basis points from November 2024 to 4.58% in December.
The fourth of the large changes was a decrease in lodging — 78 basis points from November to December, dropping to 6.14%. Industrial was fairly flat, down 3 basis points to 0.29%.
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