MF Leads as Mortgage Debt Keeps Climbing
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Woodwell: “Multifamily mortgages continued to grow even more quickly than the market as a whole.”
WASHINGTON, DC—Commercial mortgage debtreached a record high in the third quarter of 2014, and has kept climbing ever since. Led by multifamily originations, outstanding debt stood at $2.68 trillion at the end of the first quarter, the Mortgage Bankers Association said Tuesday.
As a measure of the commercial real estate sector’s improving performance, MBA said earlier this month thatdelinquencies are continuing to head south. That’s occurring even as the volume of debt continues to go north.
Now at just under $1 trillion, or slightly more than one-third the total, multifamily mortgage debt outstanding rose 2.1% during Q1, compared to a 1.4% increase for commercial mortgage debt overall. “Multifamily mortgages continued to grow even more quickly than the market as a whole, with banks increasing their portfolios by $8 billion and agency and GSE portfolios and MBS increasing their holdings by $10 billion,” says Jamie Woodwell, MBA’s VP of commercial real estate research…
MF Leads as Mortgage Debt Keeps Climbing
