The delinquency rates for commercial and multifamily mortgages were flat or decreased in the first three months of 2017
The delinquency rates for commercial and multifamily mortgages were flat or decreased in the first three months of 2017.
The Mortgage Bankers’ Association looked at five of the largest investor-groups for its latest delinquency report and found that at the end of the quarter the rates were: 0.56% for banks & thrifts, down 0.4 percentage points from the end of the fourth quarter of 2016; 0.02% for life insurers, down 0.02 points; 0.05% for Fannie Mae, unchanged; 0.03% for Freddie Mac, unchanged; and 4.45% for CMBS, down 0.08 points.
Together these groups hold more than 80% of commercial/multifamily mortgage debt outstanding.
"Delinquency rates for commercial and multifamily mortgages remained at or near record lows for most capital sources during the first quarter," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research. "Growth in property incomes and property values, coupled with low interest rates, have facilitated financing. As we near the end of the second quarter, the industry has largely worked through the so-called 'wave of maturities'."
