National + Finance | March 21, 2023

MBA: Commercial Mortgage Debt Grew by $324B in 2022

The level of commercial/multifamily mortgage debt outstanding at the end of 2022 was higher by $324 billion, or 7.7%, compared to a year ago, according to the Mortgage Bankers Association’s (MBA) latest Commercial/Multifamily Mortgage Debt Outstanding quarterly report.

MBA’s report found that total mortgage debt outstanding rose by 1.7% ($77.9 billion) in fourth-quarter 2022. Multifamily mortgage debt grew by $35.6 billion (up 1.8%) to $1.96 trillion in Q4 and by $148.2 billion (up 8.2%) for the entire year.

“Commercial and multifamily mortgage debt outstanding grew at another strong clip in 2022,” said Jamie Woodwell, MBA’s head of commercial real estate research. “The rate of growth was the second largest since 2007 – just below 2021’s pace. Among capital sources, depositories led the growth, increasing their holdings of commercial and multifamily mortgages by 12%. Additionally, growth in multifamily mortgage balances accounted for almost half of the annual increase.”

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About Paul Bubny

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. In this capacity, he oversees daily operations while also reporting on both local/regional markets and national trends, covering individual transactions across all property types, as well as delving into broader subject matter. He produces 15-20 daily news stories per day and works with the Connect team and clients to develop longer-form content, ranging from Q&As to thought-leadership pieces. Prior to joining Connect, Paul was Managing Editor for both Real Estate Forum and GlobeSt.com at American Lawyer Media, where he oversaw operations at both publications while also producing daily news and feature-length articles. His tenure in B2B publishing stretches back into the print era, and he has served as Editor in Chief on four national trade publications. Since 1999, Paul has volunteered as the newsletter editor of passenger rail advocacy groups (one national, one local).

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