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Multifamily Delinquencies Decrease in September

Mortgage News > Multifamily Delinquencies Decrease in September
Date: 10/06/2020    Multifamily Delinquencies Decrease in September

As businesses continue to recover from the coronavirus pandemic fallout, delinquencies on commercial and multifamily mortgages have started to drop, according to the Mortgage Bankers Association. Altogether, the delinquency rate fell 0.7% to 5.7% in September. Lodging continues to post the largest late payment numbers with 22.1% of all related mortgages, but is down from 23.5% in August. Retail loans have been heavily affected as well with a delinquency rate of 13.3%, down from 15.0% the month before. Multifamily property loans have the lowest late payment rate, falling to 1.7% in September, down from 1.9%.

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