In Q3, the 60-day delinquency rates for commercial and multifamily mortgages held or insured by Freddie Mac decreased 0.04 percentage points to 0.05%, while the delinquency rate for similar loans held by Fannie Mae was down 0.10 percentage points to 0.18%, according to the Mortgage Bankers Association’s Commercial/Multifamily Delinquency Report.
Commercial and multifamily mortgages held in life company portfolios also saw declining delinquency rates, with 60-day delinquencies dropping 0.02 percentage points to 0.06%. Meanwhile, the 90-day delinquency rate for mortgages held by FDIC-insured banks and thrifts dropped 0.23 percentage points to 1.95%.
“Commercial and multifamily mortgage performance continues to reflect overall economic gains,” said Jamie Woodwell, MBA’s vice president of commercial real estate
research. “Improvements in underlying property performance and property values, and the continued availability of commercial and multifamily mortgage financing, led to declines in delinquency rates for every major investor group.”
Commercial and multifamily delinquency rates were down in the third quarter, according to data released Tuesday.