U.S. Commercial, Multifamily Borrowing Falls 47 Percent Annually in Q3
According to the Mortgage Bankers Association's Quarterly Survey of Commercial and Multifamily Mortgage Bankers Originations, mortgage loan originations were 47 percent lower in the third quarter compared to a year ago, and increased 12 percent from the second quarter of 2020. "Borrowing and lending backed by commercial and multifamily mortgages remained subdued during the third quarter," said Jamie Woodwell, MBA's Vice President of Commercial Real Estate Research. "Every major property type and capital source recorded a decline compared to last year's third quarter. Originations backed by industrial and multifamily properties saw smaller declines than other property types, with multifamily lending buoyed by loans made for Fannie Mae, Freddie Mac and FHA." ORIGINATIONS DECREASE 47 PERCENT IN THE THIRD QUARTER OF 2020 All property types showed a decline in the third quarter in commercial/multifamily lending volumes when compared to the third quarter of ...