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CRE Mortgage Lending Rose 16% in 2024, Says MBA
Led by multifamily, total commercial real estate mortgage borrowing and lending totaled an estimated $498 billion in 2024, up 16% from the $429 billion in 2023 but down 39% from $816 billion in 2022. That’s according to the Mortgage Bankers Association’s (MBA) 2024 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.
MBA’s survey tracked $411 billion of loans closed by dedicated commercial mortgage bankers in 2024, a 34% increase from the $306 billion reported in 2023. Activity from smaller and mid-sized depositories is estimated from other data sources to arrive at MBA’s $498-billion estimate for the total market.
“While still below 2021’s record originations activity, the market showed renewed momentum,” said Reggie Booker, MBA’s associate VP of CRE research. “With an estimated $957 billion in CRE mortgage maturities coming due this year, demand for refinancing and new capital will be key drivers of market activity.”
- ◦Financing
