Commercial Mortgage-Backed Securities Update

The Colliers Capital Markets recent report on where national CMBS delinquencies stand had overall improvement for the eighth straight month, with Industrial (0.9%), office (2%) and multifamily (2.3%)  having the lowest delinquency rates. Hotel delinquencies are the highest (16.4%), , with retail second (11.8%). “The Mortgage Bankers Association notes that 5.2% of commercial and multifamily loan balances were not current in February, the best reading since April 2020.”  All in all very positive news considering how challenging portions of our economy has faced during the Pandemic!