Record Commercial/Multifamily Volume in 2017

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Posted To: MND NewsWire

Multifamily mortgage financing was the big winner overall in what was a record setting year for commercial and multifamily originations. The Mortgage Bankers Association (MBA) said a record $530.1 billion in loans were closed in 2017, an 8 percent gain from 2016. The largest share of lending, more than half of the volume closed, was for multifamily properties at $233.9 billion. Loans for office buildings were second followed by retail, hotel/motel, industrial, and health care properties. Ninety-six percent of the dollar volume went to first mortgage liens. “2017 was a very strong year, driven by solid property fundamentals, rising property values, low interest rates, and a ready supply of mortgage capital all contributing to extraordinarily attractive finance markets,” said Jamie Woodwell,…(read more)

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