Commercial and multifamily mortgage delinquencies increased in the second quarter of 2023, the Mortage Banker Association (MBA) said Tuesday. MBA’s latest Commercial/Multifamily Delinquency Report shows increases for all lender types except life companies.
“Delinquency rates on loans backed by commercial real estate properties rose during the second quarter for most capital sources,” said Jamie Woodwell, MBA’s head of commercial real estate research.
He continued, “Although the uptick in delinquency rates was expected, they remain at the lower end of historical ranges. Higher and volatile interest rates, uncertainty about property values and stresses in some property markets have increased pressure on some loans and properties.”
Based on the unpaid principal balance of loans, delinquency rates for each group at the end of Q2 2023 were as follows:
Banks and thrifts: 0.66%, up 0.09 percentage points from Q1;
Life company portfolios: 0.14%, down 0.07 percentage points;
Fannie Mae: 0.37%, up 0.02 percentage points;
Freddie Mac: 0.21%, up 0.08 percentage points; and
CMBS: 3.82%, up 0.82 percentage points.
MBA’s Commercial/Multifamily Delinquency Report doesn’t include construction and development loans.
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Commercial and multifamily mortgage delinquencies increased in the second quarter of 2023, the Mortage Banker Association (MBA) said Tuesday. MBA’s latest Commercial/Multifamily Delinquency Report shows increases for all lender types except life companies. “Delinquency rates on loans backed by commercial real estate properties rose during the second quarter for most capital sources,” said Jamie Woodwell, …
The post MBA: CRE Mortgage Delinquencies on the Rise appeared first on Connect CRE.
Robert Khodadadian has long had a simple philosophy about selling real estate. There are approximately a million buildings in the city, and the broker that gets to sell any one among the multitude that will hit the auctioning block at a given moment is, sometimes, simply the person who happens to pitch their services to the right seller.
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