The Trepp CMBS Delinquency rate dipped slightly in March, led by a significant improvement in the retail CMBS delinquency rate and, interestingly, a 5 basis point uptick in the office delinquency rate. The overall delinquency rate declined 4 basis points to 4.67%, with the retail delinquency rate posting a 47-basis point drop to 5.56%.

“This comes even as the outstanding balance of retail loans has remained relatively flat, indicating resilience in issuance amid softening performance,” wrote Trepp’s Thomas Taylor.


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