Annual default 0.5-1.5% (stabilized); 3-5% (office stress); 0.2-0.4% (multifamily)
| source | NCREIF + ACLI commercial mortgage performance studies |
| derivation | published_source |
| quality | published |
| regulatory frameworks | NAIC C-3 Phase 2 |
| set | 2026-05-25 |
| last reviewed | 2026-05-25 |
| next review due | 2026-06-30 |
Higher stress for office post-2024 work-from-home cycle.