Retail property loans posted the highest percent rise over last year, +39 percent, while multifamily property originations gained 11 percent.
The MBA projects commercial and multifamily mortgage originations will hit $485 billion in 2016, $225 billion of that in multifamily, the same as anticipated for this year. By the end of 2016, as nationalmortgagenews reports, total commercial and multifamily mortgage debt outstanding will total $2.8 trillion, an 1.8 percent increase year-over-year.
“Borrowing and lending in commercial and multifamily real estate markets is strong,” said Jamie Woodwell, MBA’s vice president of commercial real estate research, in a news release. “Interest rates that have stayed lower longer than most anticipated and continued growth in property incomes and values are all pushing mortgage origination levels higher.” ##
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