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CRE Mortgage Debt Rose More Than $200 Billion in 2017
Outstanding mortgage debt for commercial and multifamily assets increased 6.7% in 2017 from where it sat at the end of 2016, according to research by MBA. It totaled $3.18 trillion at the close of 2017, a jump of $200.3 billion from 2016’s level.
MBA’s Commercial/Multifamily Mortgage Debt Outstanding report revealed Q4 2017 experienced an increase of $73.6 billion, or 2.4%, over the third quarter, as all four of the major investor groups increased their holdings.
MBA researcher Jamie Woodwell points out there was continued growth “albeit at a slightly slower rate than overall property values. Even so, 2017 marked the strongest year for mortgage debt growth since 2007, with Fannie Mae, Freddie Mac and FHA leading the market, followed by banks, life companies and real estate investment trusts.”
Woodwell adds, the CMBS market, which declined “for the year as a whole, turned a corner and added $9 billion during the fourth quarter.”
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