Commercial and Multifamily Mortgage Delinquencies Decreased in March

CONTACT
Adam DeSanctis
[email protected]
(202) 557-2727

WASHINGTON, D.C. (April 1, 2021) – Delinquency rates for mortgages backed by commercial and multifamily properties decreased again in March, reaching the lowest level since the onset of the COVID-19 pandemic, according to the Mortgage Bankers Association’s (MBA) latest monthly CREF Loan Performance Survey. The survey was developed to better understand the ways the COVID-19 pandemic is impacting commercial mortgage loan performance.

“Commercial and multifamily mortgage delinquencies fell for the third straight month in March and are now at their lowest level since the pandemic disrupted the economy and commercial real estate a year ago,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research. “There continues to be significant differences in loan performance by property type, with higher delinquencies rates for lodging- and retail-backed mortgages.”

Key Findings from MBA’s CREF Loan Performance Survey for March 2021:

  • The balance of commercial and multifamily mortgages that are not current decreased again in March to its lowest level since April 2020.
  • 95.0% of outstanding loan balances were current, up from 94.8% in February.
  • 3.2% were 90+ days delinquent or in REO, down from 3.5% a month earlier.
  • 0.3% were 60-90 days delinquent, unchanged from a month earlier.
  • 0.5% were 30-60 days delinquent, down from 0.6% a month earlier.
  • 0.9% were less than 30 days delinquent, up from 0.8%.

Click Here For The Full Article

    SUBSCRIBE TO OUR NEWSLETTER

    Start receiving; press releases, commercial real estate news, information and trends on particular markets and regions.


    Picture: Pixabay
    Scroll to top
    error: Content is protected !!
    %d bloggers like this: