A more than 20-basis-point drop in delinquency on securitized commercial real estate loans left the rate at its lowest level in nine years. Multifamily delinquency was lowest.

Delinquency of at least 60 days on loans that are included in commercial mortgage-backed securities landed at 4.73 percent in July — the lowest level since it was 4.47 percent in November 2009.

CMBS delinquency was previously reported at 4.94 percent as of June of this year. In July of last year, the rate was previously reported far higher at 6.72 percent.

Source: Mortgage Daily