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.”