U.S. mortgage delinquency rates down in Q4 2012Souce:Xinhua Publish By Jane B. Hatcher Updated 07/03/2013 6:39 pm in Business / no comments
WASHINGTON, March 5 — Delinquency rates for commercial and multifamily mortgage loans continued to go down in the fourth quarter of 2012, according to an industry report released on Tuesday.
The Mortgage Bankers Association (MBA) found in a report that in the fourth quarter, the delinquency rates for commercial and multifamily mortgages held in life insurance companies, Freddie Mac, Fannie Mae, banks and commercial mortgage-backed securities (CMBS) decreased to 0.08 percent, 0.19 percent, 0.24 percent 2.62 percent and 8.73 percent, respectively.
“The continued decline is being driven by improving property fundamentals and a strong finance market,” said Jamie Woodwell, MBA’s vice president of commercial real estate research.
The MBA tracks commercial and multifamily delinquency rates for five of the largest investor-groups, including commercial banks and thrift institutions, commercial mortgage-backed securities, life insurance companies, Fannie Mae and Freddie Mac, for its analysis.
Together these groups hold more than 80 percent of commercial and multifamily mortgage debt outstanding.