The delinquency rate on loans commercial mortgage-backed securities increased for the third consecutive month in May after significant declines at the start of the year, according to Trepp.

The overall U.S. CMBS delinquency rate swelled 12 basis points from the previous month to 4.35%, Trepp reported Friday. Similarly, the percentage of seriously delinquent loans, including loans that are more than 60 days delinquent or in foreclosure, rose 11 basis points month-over-month to 4.24%.

Year-over-year, the CMBS delinquency rate nationwide is 105 basis points below where it was.

At the property-type level, the industrial delinquency rate was the only categorize to post a decrease, falling 23 basis points to 5.72%. The biggest increase was recorded for the office delinquency rate, which soared 21 basis points to 5.51%.

Increases were also noted in lodging, multifamily and retail, with multifamily being the best performing sector.

Subscribe Now

Access to a full range of industry content, analysis and expert commentary.

30-Day Free Trial

No credit card required. Access coverage of the securitization marketplace, including breaking news updated throughout the day.