First-quarter commercial debt activity relatively flat: national report

The amount of outstanding mortgage debt in the commercial and multi-family sectors nationwide decreased to $3.31 trillion in the first quarter of the year, dropping $31 billion from the fourth quarter of 2009, according to the Mortgage Bankers Association. The decline marks a .9 percent quarter-over-quarter reduction in the total amount of commercial and multi-family mortgage debt nationwide. Despite this relatively flat level of activity, Jamie Woodwell, vice president of commercial real estate research with MBA, said that he believes more borrowers are making the effort to pay down their debts. “Low levels of commercial mortgage borrowing mean that property investors are paying off… more in mortgages than they are taking out,” Woodwell said. TRD