Hotel, Retail Mortgage Delinquencies Down in July, But Concerns Remain

National Mortgage News, Aug. 06, 2021–Brad Finkelstein (subscription)
Lodging and retail mortgages showed significant performance improvement in July and while office loan late payments are higher relative to the past, lease structures should mitigate any sector worries, the Mortgage Bankers Association said. The percentage of commercial and multifamily mortgages that are current rose to its highest level since the start of the pandemic, to 95.5% for July from 95.2% in both May and June, according to the organization’s CREF Loan Performance Survey report. The 0.3 percentage point month-to-month change is the largest since February.