Multifamily Originations Rise in Third Quarter

mortgage app   texaslendingtoday creditThe Mortgage Bankers Association (MBA) tells MHProNews loan originations for multifamily and commercial properties rose in Q3 2015, increasing 12 percent over the third quarter of 2014, and three percent on a quarterly basis.

Retail property loans posted the highest percent rise over last year, +39 percent, while multifamily property originations gained 11 percent.

The MBA projects commercial and multifamily mortgage originations will hit $485 billion in 2016, $225 billion of that in multifamily, the same as anticipated for this year. By the end of 2016, as nationalmortgagenews reports, total commercial and multifamily mortgage debt outstanding will total $2.8 trillion, an 1.8 percent increase year-over-year.

Borrowing and lending in commercial and multifamily real estate markets is strong,” said Jamie Woodwell, MBA’s vice president of commercial real estate research, in a news release. “Interest rates that have stayed lower longer than most anticipated and continued growth in property incomes and values are all pushing mortgage origination levels higher.##

(Image credit: texaslendingtoday)

matthew-silver-daily-business-news-mhpronews-comArticle submitted by Matthew J. Silver to Daily Business News-MHProNews.

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