Commercial and multifamily mortgage delinquency rates dropped for banks and rose for commercial mortgage backed securities (CMBS) nationally during the first quarter of 2012, according to the Mortgage Bankers Association’s (MBA) Commercial/Multifamily Delinquency Report.

During the first quarter of 2012, the 60+ day delinquency rate for commercial and multifamily mortgages held in life company portfolios decreased 0.03 percentage points to 0.14 percent. 

The 60+ day delinquency rate for multifamily loans held or insured by Fannie Mae decreased 0.22 percentage points to 0.37 percent. The 90+ day delinquency rate for loans held by FDIC-insured banks and thrifts decreased 0.13 percentage points to 3.44 percent. And the 30+ day delinquency rate for loans held in commercial mortgage-backed securities increased 0.29 percentage points to 8.85 percent.

The first quarter 2012 delinquency rate for commercial and multifamily mortgages held in life insurance company portfolios was 7.39 percentage points lower than the series high of 7.53 percent reached during the second quarter of 1992. The delinquency rate for multifamily loans held by Freddie Mac was 6.58 percentage points lower than the series high of 6.81 percent reached in the fourth quarter of 1992. The delinquency rate for multifamily loans held by Fannie Mae was 3.25 percentage points below the series high of 3.62 percent hit during the fourth quarter of 1991. 

The rate for commercial and multifamily mortgages held by banks and thrifts was 3.14 percentage points lower than the series high of 6.58 percent reached in the second quarter of 1991, and the rate for loans held in CMBS was 0.17 percentage points below the series high of 9.02 percent reached in the second quarter of 2011.