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MBA Reports CRE Multifamily Mortgage Debt Climbed to $3.39 Trillion in 2018
The level of commercial and multifamily mortgage debt outstanding at the end of 2018 reached $216 billion, a 6.8% increase from what was recorded at the end of 2017, 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 in the final three months of 2018 rose by 2.1% ($68.5 billion) compared to the previous quarter, with all four major investor groups increasing their holdings. Multifamily mortgage debt grew $32.2 billion (2.4%) to $1.36 trillion over the same period.
MBA’s Jamie Woodwell says, “2018 recorded the largest annual increase in commercial and multifamily mortgage debt outstanding since the Great Recession, and the largest increase in multifamily mortgage debt on record. Growth in multifamily mortgage debt made up almost half the total increase in debt outstanding, and Fannie Mae, Freddie Mac and FHA collectively accounted for two-thirds of the multifamily growth.”
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