SEEKING ALPHA’s Wolf Richter writes:

The delinquency rate for commercial mortgage-backed securities (CMBS) spiked from 2.29% in April to 7.15% in May by loan balance, according to Trepp.

The five biggest categories of commercial real estate ? multifamily apartments, retail, offices, lodging, and industrial ? had very different delinquency rates, ranging from minor to catastrophic.

The overall CMBS delinquency rate could have been worse for May and is likely to get worse for June, Trepp said.

Commercial Mortgage-Backed Securities backed by hotel and ...

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