The percentage of commercial mortgage-backed securities (CMBS) paying off jumped sharply in February, posting the second-highest reading since December 2008, according to new data from Trepp LLC, GlobeSt.com reported.

CMBS loans maturing at their balloon date hit 61.6 percent in February, an increase of nearly 21 points from January. February marks only the fourth time since late 2008 that the percentage cracked the 50 percent mark, according to Trepp.

By loan count, nearly 65 percent were paid, bringing the 12-month rolling average to 51.7 percent, according to Trepp.

Prior to 2008, the payoff percentages were typically well above 70 percent, GlobeSt.com said.

Since the beginning of 2009, there have been just four months when more than half of the balance of the loans reaching their balloon date actually paid off, according to the Trepp report.