The delinquency rate of loans in U.S. commercial mortgage-backed securities 30 days or more overdue inched down 5 basis points in May to 9.60% after reaching a record high in April, according to Trepp. Trepp noted that although the decline was small, it was the largest rate drop for U.S. CMBS in about two years, except for last October. The delinquency rate for the industrial sector was the biggest gainer, spiking 120 bps in May to almost 12%, up from under 7% just six months ago.

Click here to read the release from Trepp.