2024 CMBS Delinquency Rates

Source: Trepp

The Trepp CMBS Delinquency rate dropped slightly in March 2024. Overall, the delinquency rate declined 4 basis points to 4.67 percent.

The decline was almost exclusively due to the continued improvement in the retail sector as it notched its fourth consecutive monthly decline. The retail delinquency rate declined 47 basis points in March to 5.56 percent.

Ironically, the office sector was one of only two sectors that saw a decline in the delinquency rate. The office delinquency rate declined 5 basis points to 6.58 percent.

If we included loans that are beyond their maturity date but current on interest, the delinquency rate would be 5.43 percent, down 26 basis points from February.

The percentage of loans in the 30 days delinquent bucket is 0.16 percent, down 14 basis points for the month.

Our numbers assume defeased loans are still part of the denominator unless otherwise specified.

—Posted on April 29, 2024

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