Commercial and multifamily mortgage loan originations were 18% lower in the fourth quarter of 2020 compared to a year ago, but up 76% over Q3 levels, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
A preliminary MBA measure of commercial and multifamily mortgage originations volumes shows borrowing and lending in 2020 was 30% lower than in 2019. Outside of government-backed loans, all major property types and most capital sources saw lower levels of activity.
“The last three months of 2020 were stronger than earlier quarters for borrowing backed by commercial and multifamily properties,” said Jamie Woodwell, MBA’s VP of commercial real estate research. “Borrowing and lending remain weakest for the property types most impacted by the pandemic, particularly hotel and retail buildings. Multifamily, led by government-backed financing from FHA, Freddie Mac and Fannie Mae, continued to see the strongest commercial mortgage activity."
Paul Bubny serves as Senior Content Director for Connect Commercial Real Estate, a role to which he brings 13-plus years’ experience covering the commercial real estate industry and 30-plus years in business-to-business journalism.
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