The 30-day delinquency rate on securitized multifamily mortgages fell slightly in April after a 332-basis-point spike in March because of the default of the Stuyvesant Town and Peter Cooper Village project in New York.

In April, the delinquency rate fell 13 basis points, to 13.06% — the first decline in the multifamily rate since May 2009, according to a Trepp LLC report released Monday. The New York firm tracks the performance of commercial mortgage-backed securities.

Subscribe Now

Access to authoritative analysis and perspective and our data-driven report series.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.