
09/23/2025
CRE loan stress is building fast.
CMBS delinquencies surged in Q2 to 6.36%, driven by office and multifamily woes, while banks, agencies, and insurers also saw upticks.
Different delinquency definitions across lender types make comparisons tricky, but the trend is clear: pressure is mounting.
Expect tighter credit, more loan workouts, and growing caution across the commercial lending landscape.
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