Mortgage delinquency rates nationwide among loans held by banks, life insurance companies, Fannie Mae and Freddie Mac declined in the second quarter, according to the Mortgage Bankers Association.

The delinquency rate for loans held in commercial mortgage backed securities continued to rise during the quarter and reached its highest level since 1997, the MBA said.

The 90-day-plus delinquency rate for loans held by Federal Deposit Insurance Corp.-insured banks decreased 0.25 percent to 3.93 percent.

The 60-day-plus delinquency rate for life insurance company loan portfolios decreased 0.02 percentage points to 0.12 percent.

Multi-family loans held or insured by Fannie Mae showed 60-day-plus delinquency rates that decreased 0.18 percentage points to 0.46 percent. The same loan delinquency category for Freddie Mac decreased 0.05 percentage points to 0.31 percent.

The 30-day-plus delinquency rate for CMBS increased 0.25 percentage points to 9.43 percent.

Also in the second quarter, delinquency rates for commercial and multi-family mortgages held by banks and thrifts were down 2.65 percentage points from their last peak of 6.58 percent in 1991.

The MBA noted a similar trend for loans held in life insurance company portfolios, by Fannie Mae and Freddie Mac.

The delinquency rate for commercial and multi-family loans held in CMBS was a record high during the quarter at 9.43 percent at 30 days or more delinquent or REO.