Office CMBS Delinquency Rate Spikes to Record 11.7%, Much Worse than Financial Crisis Peak. Multifamily Delinquencies also Spike

The office and multifamily sectors of commercial real estate loans got further bludgeoned in August, despite large-scale extend-and-pretend and forbearance deals executed in the hopes for better times and lower interest rates and more demand so that lenders don’t end up with the property and a huge loss.