Commercial Real Estate and Multifamily Mortgage Delinquencies Trend Higher in Q3

In Q3 2024, delinquency rates for commercial and multifamily mortgages rose slightly, according to the Mortgage Bankers Association. The survey covered $2.6 trillion in loans, revealing that 96.8% of loans were current or less than 30 days late. Delinquency rates increased for office properties (7.8%) but decreased for lodging (5.6%), retail (3.8%), and industrial (0.6%). CMBS loans had the highest delinquency rates at 4.8%, remaining unchanged. Overall, the commercial mortgage market shows varied performance across different property types.