CRE Gets Messier: Office-CMBS Delinquency Rate Spikes by Most Ever. Bank-Held Office Mortgages also Hit

The delinquency rate of commercial real estate mortgages on office properties that had been securitized into Commercial Mortgage-Backed Securities (CMBS) spiked to 5.0% by loan balance in July, up from a delinquency rate of 2.8% in April, having now spiked by 2.2 percentage points in three months...