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Office CMBS delinquency hits 13.2% in August 2026

The office delinquency rate was 13.2% in August 2026, up from 8.1% in July 2024, and special servicing rose to 15.7%.

Reported · Written up by our desk · Commercial

Office commercial mortgage-backed securities delinquency rose to 13.2% in August 2026, the highest reading since at least 2019, according to Commercial Observer citing CRED iQ data.

The office delinquency rate followed an increase from 8.1% in July 2024, and the outlet noted the office figure includes performing matured loans.

When performing matured loans are excluded, office delinquency stood at 9.8%. Special servicing climbed to 15.7%, the highest since at least 2019, up from 14.9% a year earlier and from 10.6% in July 2024.

The figures cover $189.6 billion of office debt across conduit, single-asset, single-borrower and commercial real estate collateralized loan obligation deals, and Commercial Observer reported that delinquency held between 11.5% and 12.5% from September 2025 through July 2026 before jumping in August.

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