With the economy as stable as it has been from 2017 to date, commercial and multifamily fourth-quarter mortgage delinquencies have declined, according to a recent report.
"'Commercial and multifamily mortgages ended 2017 continuing to perform extraordinarily well,' Jamie Woodwell, the MBA's vice president of commercial real estate research, said in a press release," according to National Mortgage News.
"The market tailwinds of strong fundamentals, increasing property values and ready access to mortgage and other credit all put downward pressure on delinquency rates."
Though there is an increase across the board, there are a few standout sectors. According to the report, loans that included commercial mortgage-backed securities saw the largest improvement with a small 4.08% of payments that were over 30 days late.
"Fannie Mae was the only investor type that had an increase in loans that were 60 days or more delinquent compared to the fourth quarter of 2016, a rise of 6 basis points to 0.11%," according to NMN.
"This is the highest fourth-quarter delinquency rate since 2012."
To learn more about the improvement in commercial mortgage delinquencies, clcik on the image above.