Commercial, multi-family mortgage debt jump for first time since 2009

New York /
Sep.September 22, 2011 11:09 AM

The level of commercial and multi-family mortgage debt that was outstanding grew by 0.1 percent in the second quarter of the year, marking the first quarter-over-quarter increase since the third quarter of 2009, according to a report by the Mortgage Bankers Association.

There was $2.4 trillion in combined outstanding commercial and multi-family mortgage debt outstanding in the second quarter, $3.5 billion more than in the first quarter. Multi-family increased by $3.9 billion or 0.5 percent to $802 billion.

“For the first time in a year-and-a-half, new commercial and multi-family mortgage originations outpaced the paying off and paying down of existing loans,” said Jamie Woodwell, MBA’s vice president of commercial real estate research. “Increases in the balance of mortgages held and insured by life insurance companies, Fannie Mae, Freddie Mac and FHA outpaced declines among banks and thrifts and CMBS issues.”

Commercial banks still hold the largest portion of commercial and multi-family mortgages, $792 billion, or 33 percent of the total, the report says. — Katherine Clarke


Related Articles

arrow_forward_ios
Clockwise from top left: 162 West 13th Street, 325 Avenue Y in Brooklyn, 1281 Viele Avenue in the Bronx (Credit: Google Maps)
Here’s what the $10M-$30M NYC investment sales market looked like last week
Here’s what the $10M-$30M NYC investment sales market looked like last week
Real Capital Analytics data showed that New York’s multifamily market had a very slow July. (Credit: iStock)
New NYC rent law “beginning to shut down investment”
New NYC rent law “beginning to shut down investment”
Numbers were down across the board (Credit: iStock)
New York’s multifamily market had its slowest first half of the year since 2011
New York’s multifamily market had its slowest first half of the year since 2011
(Photo Illustration by Steven Dilakian for The Real Deal with Getty)
Borrowers are back: Mortgage applications rise
Borrowers are back: Mortgage applications rise
From left: 608 Fifth Avenue, 22 North Loop Road, 38 West 36th Street (608 Fifth, Weiss/Manfredi, Morphosis, and Handel Architects, Apartments, Getty)
Top 10 Manhattan loans: Big lending enters deep freeze
Top 10 Manhattan loans: Big lending enters deep freeze
Illustration of Stefan Soloviev (HaydenSoloviev, CC BY-SA 4.0, via Wikimedia Commons, Getty)
Soloviev bets long-dormant Midtown East site in casino sweepstakes
Soloviev bets long-dormant Midtown East site in casino sweepstakes
CHIP's Jay Martin and HCR Commissioner RuthAnne Visnauskas (Getty)
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
Lies, damn lies, and statistics: Did rent-stabilized vacancies really fall?
PulteGroup's Ryan R. Marshall and RedFin's Glenn Kelman (PulteGroup, RedFin, Getty)
Wall Street is bidding up housing stocks again
Wall Street is bidding up housing stocks again
arrow_forward_ios

The Deal's newsletters give you the latest scoops, fresh headlines, marketing data, and things to know within the industry.

Loading...