Delinquency rates continued to decline for commercial and multifamily mortgage loans in the fourth quarter of 2012, according to the Mortgage Bankers Association's (MBA) Commercial/Multifamily Delinquency Report.
During the fourth quarter of 2012, the 60-plus day delinquency rate for commercial and multifamily mortgages held in life company portfolios decreased 0.04 percentage points to 0.08%. The 60-plus day delinquency rate for multifamily loans held or insured by Freddie Mac decreased 0.08 percentage points to 0.19%.
The 60-plus day delinquency rate for multifamily loans held or insured by Fannie Mae decreased 0.04 percentage points to 0.24%. The 90-plus day delinquency rate for loans held by federally insured banks and thrifts decreased 0.32 percentage points to 2.62%. The 30-plus day delinquency rate for loans held in commercial mortgage-backed securities decreased 0.13 percentage points to 8.73%.
‘The continued decline is being driven by improving property fundamentals and a strong finance market,’ says Jamie Woodwell, the MBA's vice president of commercial real estate research.
