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%.

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