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Q2 Commercial and Multifamily Originations Up

Phil Hall
Aug 21, 2018
commercial property

Commercial and multifamily mortgage originations during the second quarter were up by 4 percent higher from a year ago and were up 32 percent from the first quarter, according to data from the Mortgage Bankers Association (MBA).

The second quarter recorded a 22 percent annualized increase in the dollar volume of loans for hotel properties and a 17 percent annualized increase for multifamily properties, while retail properties saw a rather meager 1 percent year-over-year uptick. Office properties, industrial properties and health care property loans recorded annualized dollar volume declines of 4 percent, 10 percent and 16 percent, respectively.

Among investor types, dollar volume of loans originated for government-sponsored enterprises Fannie Mae and Freddie Mac were up by 18 percent from one year earlier, while life insurance company loans rose 6 percent for the same period. On the down side, there was a 1 percent decrease in commercial bank portfolio loans and an 8 percent decrease for commercial mortgage-backed securities loans.

"Commercial and multifamily real estate borrowing and lending continues to track with last year," said MBA Vice President for Commercial Real Estate Research Jamie Woodwell. "Investor demand for multifamily properties and hotels are helping push originations higher, even as loan demand for retail properties is down."
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