Commercial mortgage delinquencies in the third quarter of 2023 not unexpectedly increased for the third consecutive month, according to the Mortgage Bankers Association's latest Commercial Delinquency Report.

Jamie Woodwell, MBA's Head of Commercial Real Estate Research, said in prepared remarks that every major capital source saw delinquency rates rise, driven by higher interest rates, changes in some property market fundamentals, and uncertainty about property values.

"CRE market activity remains muted, further complicating the situation," Woodwell said.

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