Performance on securitized commercial real estate loans was worse in any month since 2015. Maturing loans and shrinking outstandings were blamed.
Thirty-day delinquency, including foreclosures, on loans included in commercial mortgage-backed securities was 3.14 percent as of April 30.
The last time that CMBS loan performance was that weak was in December 2015, when the past-due rate worked out to 3.43 percent.
Source: Mortgage Daily