Magazine article Mortgage Banking

MBA: Commercial/multifamily Borrowing 'On Pace' with Last Year

Magazine article Mortgage Banking

MBA: Commercial/multifamily Borrowing 'On Pace' with Last Year

Article excerpt

Second-quarter commercial and multifamily loan originations fell slightly--2 percent--year-over-year, the Mortgage Bankers Association (MBA) reported in its Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. "Year-to-date borrowing by commercial and multifamily real estate owners is running at the same pace as last year," said Jamie Woodwell, MBA's vice president of commercial real estate research. "Low interest rates and improving property fundamentals are prompting borrowers to act, but the relatively low volume of loans hitting maturity is checking overall demand."

The 2 percent overall decrease in commercial/multifamily lending volumes compared with 2013 largely came from a decrease in originations for retail and multifamily properties, MBA reported. Both saw 10 percent dollar volume decreases while offices saw a 6 percent decrease. Partially offsetting these decreases, industrial property loan volumes increased 20 percent, hotel property loans increased 45 percent and healthcare property loan originations nearly doubled.

Among investor types, the dollar volume of loans originated for government-sponsored enterprises (GSEs) Fannie Mae and Freddie Mac decreased 13 percent year-over-year. …

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