Total commercial and multifamily debt outstanding reached an all-time high in the third quarter after rising by $45.4 billion (1.4%), according to the Mortgage Bankers Association (MBA).
Debt outstanding increased to $3.32 trillion in the third quarter, surpassing the previous high of $3.27 trillion in the second quarter. Over the same period, multifamily mortgage debt increased $26.1 billion (2%) to $1.3 trillion.
"Favorable commercial real estate fundamentals and strong lender demand pulled commercial and multifamily mortgage debt outstanding to a new high," said Jamie Woodwell, MBA's vice president of commercial real estate research.
Commercial, Multifamily Mortgage Debt Reaches All-Time High
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- Written by: Francis Monfort of Mortgage Professional America
- Category: Breaking News - Daily