Freddie Mac Expands Single Family Rental Business

National Mortgage Professional reports on August 1st that the delinquency rate for commercial real estate loans in commercial mortgage-backed securities (CMBS) reached 5.49 percent in July, which represents a 26 basis points (bps) decline from the June level of 5.75 percent. The article notes that approximately $1.4 billion in loans became newly delinquent in July while nearly $1.2 billion in loans were cured last month. Among different property sectors, the multifamily delinquency rate experienced the steepest drop in delinquency rates, declining 101 bps to 2.91 percent. Lodging was the only sector to see an increase in delinquency rates, moving up slightly from 3.53 percent to 3.68 percent.

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