In September, late payments for agency loans rose to 1.4% from 0.46% in August. Non-agency late payments rose from 1.83% in August to 2.78% in September.
Currently, multifamily mortgage delinquency levels are up only slightly from pre-pandemic levels for both affordable housing and market-rate housing loans in CMBS transactions.
Interest rates have hit rock bottom and both individuals and companies are holding onto cash while the nation waits for a federal stimulus package, the Presidential election and a cure for Covid-19.