CMBS delinquencies have seen big spikes in the Springfield area but largely spared the Greater Boston commercial real estate market so far amid a surge in COVID-19 pressure on the retail and hotel sectors.

Debt researchers Trepp report that the national CMBS delinquency rate is approaching the record high of 10.3 percent high from 2012, a sharp increase from 2.3 percent in April and 7 percent in May.

The “catastrophic” increase is concentrated in the lodging and retail sectors, according to Trepp research released this week. Over 18 percent of retail loans nationwide were delinquent in June, up from just 3.6 percent in April, as tenants fell behind on rent payments to landlords amid government-ordered shutdowns.

“Many retailers do not have the capital to adapt to the effects of the pandemic. That added with a decline in the overall performance of the sector in recent years is not a good sign for the CMBS universe,” the report states.

Delinquency rates throughout New England’s largest metro statistical areas vary widely, from a low of 3.6 percent on $9.4 billion in outstanding loans in Greater Boston to 56 percent on $360.3 million worth of loans in the Springfield area. Another $47.7 million is delinquent on $394 million in loan balances in the Worcester region, representing a 12.1 percent rate.

The pandemic amplified existing pressure on brick-and-mortar retailers from e-commerce, which has caused retail loan delinquencies to exceed all other commercial property types over the past five years.

CMBS loans on retail properties total $135.8 billion – approximately one-quarter of the overall CMBS market – and are at risk from the recent bankruptcy filings by JCPenney and Neiman Marcus. Properties that include the two chains’ stores have nearly $19 billion in CMBS loans, according to Trepp.

The delinquency rate has risen much faster during the COVID-19 pandemic than the 2008 financial crisis, when it took more than two years to hit 10.3 percent, Trepp said.