Delinquency rates for mortgages backed by commercial and multifamily properties declined in September, according to Mortgage Bankers Association's monthly CREF Loan Performance Survey (data collected as of Sept. 20, 2020).

"Commercial and multifamily mortgage performance has stabilized, and in many cases, has begun to slowly improve since the initial stress of April and May," said Jamie Woodwell, MBA's VP of Commercial Real Estate Research.

The share of commercial and multifamily loan balances that were current increased to 94.3% in September from 93.6% in August, with fewer new loans becoming delinquent.

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