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MBA Forecasts 16% Increase in CRE Mortgage Volume for 2025
Total commercial and multifamily mortgage borrowing and lending is expected to rise to $583 billion in 2025, a 16% increase from 2024’s estimated total of $503 billion. That’s according to an updated baseline forecast released by the Mortgage Bankers Association (MBA) at its 2025 Commercial/Multifamily Finance Convention and Expo in San Diego.
Multifamily lending alone is expected to reach $361 billion in 2025, also a 16% year-over-year increase. MBA anticipates originations in 2026 will increase to $709 billion in total commercial real estate lending, with $419 billion of that total in multifamily lending.
“There are still plenty of challenges in commercial real estate, but there are also signs of stabilization,” said Mike Fratantoni, MBA’s SVP and chief economist. “Given the strong pickup in origination activity at the end of 2024, it appears that at least some borrowers and lenders are ready to move.”


