Late payments on securitized commercial mortgages moved noticeably higher in June, as several large loans failed to pay off at maturity, National Mortgage News reported yesterday. It was the fourth straight month that the rate has crept higher following two large decreases in January and February. The delinquency rate for U.S. commercial real estate loans in CMBS is now 4.6 percent, an increase of 25 basis points from May, according to analytics firm Trepp. The rate is still 85 basis points lower than it was a year earlier and 57 basis points lower than it was at the beginning of this year. The delinquency rate reached its multiyear low of 4.15 percent in February 2016. The all-time high was 10.34 percent in July 2012.
