Commercial and multifamily delinquency rates stayed low at the end of 2020 despite the rapid rise of mortgage rates in the fourth quarter.

Commercial/multifamily delinquencies for five of the largest investor groups (commercial banks and thrifts, commercial mortgage-backed securities [CMBS], life insurance companies, Fannie Mae and Freddie Mac, remained low in Q4, according to the Mortgage Bankers Association. These groups hold over 80% of commercial/multifamily mortgage debt outstanding.

“There were slight upticks among loans in CMBS, life companies, and banks and decreases for Fannie Mae and Freddie Mac, but overall performance remained positive,” said Jamie Woodwell, head of commercial real estate research at MBA.