NEW YORK CITY-In a development that appears to defy the recent trend toward moderating increases in the CMBS delinquency rate, November’s rate shot up by 35 basis points, the steepest increase since May, says data firm Trepp. This follows a month in which the delinquency rate actually saw its first decline in more than a year. However, Mission Capital Advisors’ William David Tobin sees the rise as another manifestation of the bifurcation in the national market’s recovery.

“The November numbers certainly throw some cold water on the enthusiasm that has been building over the past six months that the peak for delinquencies was nearing,” says Manus Clancy, managing director at Trepp, in a release. November’s increase puts the delinquency rate at 8.93%, just behind the all-time record of 9.05% set in September, according to Trepp. Prior to that, the monthly increase had tapered off from the 40-bps jump recorded in May to an average of 10 to 20 bps, culminating in a 47-bps drop in October.

Want to continue reading?
Become a Free ALM Digital Reader.

Once you are an ALM digital member, you’ll receive:

  • Unlimited access to GlobeSt and other free ALM publications
  • Access to 15 years of GlobeSt archives
  • Your choice of GlobeSt digital newsletters and over 70 others from popular sister publications
  • 1 free article* every 30 days across the ALM subscription network
  • Exclusive discounts on ALM events and publications

*May exclude premium content
Already have an account?


© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.


Join GlobeSt

Don't miss crucial news and insights you need to make informed commercial real estate decisions. Join now!

  • Free unlimited access to's trusted and independent team of experts who provide commercial real estate owners, investors, developers, brokers and finance professionals with comprehensive coverage, analysis and best practices necessary to innovate and build business.
  • Exclusive discounts on ALM and GlobeSt events.
  • Access to other award-winning ALM websites including and

Already have an account? Sign In Now
Join GlobeSt

Copyright © 2024 ALM Global, LLC. All Rights Reserved.