Last Tuesday the Mortgage Bankers Association (MBA) reported a 9% increase in mortgage originations for both commercial property and multi-family rental buildings.
Jamie Woodwell, VP of commercial real estate research for the Mortgage Bankers Association said, "The overall number masks larger increases in the dollar volume of loans originated for commercial mortgage-backed securities and Fannie Mae and Freddie Mac and a decline in the amount originated for life insurance company portfolios."
They added that the increase was noticeable especially in the hotel properties as well.
The 9% increase is compared to the 1st quarter of 2012, but the 4th quarter ended 36% higher than this year’s 1st quarter.
Let’s hope this year’s 4th quarter follows last years and numbers continue to match or surpass.
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