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MBA: CRE Mortgage Loans Hit All-Time Quarterly High
Commercial and multifamily mortgage loan originations were up 119% year-over-year in the third quarter and 19% over Q2 for an all-time quarterly high, the Mortgage Bankers Association (MBA) reported. That being said, MBA noted there continues to be a differentiation by property type.
“Borrowing and lending backed by industrial and multifamily properties are each running at a record annual pace,’ said Jamie Woodwell, MBA’s VP of commercial real estate research. “And while year-to-date office and retail lending are each up significantly from last year, both remain below 2019 levels.”
Woodwell continued, “Among capital sources, nearly every major group – including CMBS, banks, life companies and investor-driven lenders – is lending well above 2020 levels, with life companies and investor-driven lenders also exceeding their 2019 year-to-date volumes. The one exception is the GSEs (Fannie Mae and Freddie Mac), whose conservator limited their loan purchase volumes this year.”
- ◦Financing
