Commercial Delinquencies Up In Q1 2024 Thanks To CRE Stressors

Commercial mortgage delinquencies rose in Q1 2024 as the CRE world faces a mountain of financial stress. The Mortgage Bankers Association’s (MBA) latest Commercial Delinquency Report focuses on delinquencies for five of the largest investor-groups: commercial banks and thrifts, commercial mortgage-backed securities (CMBS), life insurance companies, and Fannie Mae and Freddie Mac. These groups hold more than 80% of commercial mortgage debt outstanding. “Commercial mortgage delinquency rates continued to increase during the first three months of 2024,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research.  “The increase was seen across most capital sources, pointing to the challenges caused by loans that are maturing amid higher interest rates, uncertain property values, and questions about some properties’ fundamentals.” More than…