Commercial and multifamily mortgage loan originations were 49 percent lower in the third quarter of 2023 compared to a year ago, and decreased 7 percent from the second quarter of 2023, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.
“Borrowing backed by commercial real estate properties declined again in the third quarter,” said Jamie Woodwell, MBA’s Head of Commercial Real Estate Research. “Borrowing and lending were down for every property type and capital source from one year ago. However, compared to this year’s second quarter, volumes were more stable, and some sectors – including industrial properties and life company lenders – showed an uptick in volume.”
Source: Commercial/Multifamily Borrowing Down 49% in Third-Quarter 2023 | MBA
