Commercial, multi-family mortgage debt stays relatively unchanged

The level of commercial and multi-family mortgage debt in the U.S. stood at $3.48 trillion in the first quarter, a $33 million decrease from the fourth quarter of 2008, according to a Mortgage Bankers Association analysis released today of Federal Reserve numbers. Within that $3.48 trillion, multi-family mortgage debt rose to $908 billion, a 0.6 percent increase from the previous quarter. Commercial banks hold 45 percent of commercial and multi-family mortgages, according to the analysis. TRD