Mortgage Bankers Association: CRE Lending Volume Up 16% Year-Over-Year

Commercial and multifamily mortgage loan originations were 16% higher in the second quarter of 2026 than in the year-ago period, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Dollar volume increased 12% from Q1 of 2026, MBA said.

Increased originations for retail, office, hotel, industrial and multifamily properties led to an overall increase in commercial/multifamily lending volumes. Dollar volume of loans for retail properties rose 61%, while office loans rose 47%, lodging properties rose 19%, multifamily rose 8% and industrial increased 6%. Healthcare originations decreased 19% year-over-year.

“Commercial and multifamily mortgage lending maintained its upward trajectory in the second quarter as improving capital markets and stronger transaction activity supported higher origination volumes,” said Reggie Booker, MBA’s associate VP of commercial research. “Office lending was strong, with increases in originations on an annual and quarterly basis, signaling renewed financing activity in a sector that has faced significant headwinds. Additionally, CMBS and bank lenders posted particularly strong gains in the second quarter. Although activity remains uneven across some capital sources and property sectors, the overall increase in lending points to continued improvement in commercial real estate finance markets.”