2020 CMBS Delinquency Rates

The February reading is 2.0 percent, a decline of 10 basis points from the month prior, a new post-Great Recession low.
Source: Trepp
Source: Trepp

The Trepp CMBS Delinquency Rate dropped once again in February, continuing a trend that has extended to nearly three years by now. Heavy new issuance late last year added performing supply to the denominator while defaulted legacy loans continually get resolved away in early-2020.

The February reading is 2.0 percent, a decline of 10 basis points from the month prior, which is once again another new post-crisis low. The delinquency rate started to fall after June 2017 when CMBS delinquencies totaled 5.8 percent. Since then, the rate has fallen in 27 of the last 32 months. The all-time high of 10.3 percent was registered in July 2012.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on Mar. 26, 2020


Source: Trepp

The Trepp CMBS Delinquency Rate dropped sharply in January as heavy new issuance continued to add performing supply to the denominator and defaulted legacy loans were resolved away. The January reading is 2.1 percent, a decline of 20 basis points, and another new post-crisis low. The delinquency rate started to fall after June 2017 when CMBS delinquencies totaled 5.8 percent. Since then, the rate has fallen in 26 of the last 31 months. The all-time high of 10.3 percent was registered in July 2012.

Manus Clancy is Senior Managing Director of Applied Data & Research.

—Posted on Feb. 21, 2020