Commercial and Multifamily Mortgage Originations Up 119% Year-Over-Year in Q3 2021

The Mortgage Bankers Association today (11-5-21) released their Q3 2021 Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. According to the survey, mortgage loan originations for these types of properties in Q3 were 119% higher year-over-year and 19% higher from Q2 2021.

All property types showed an increase in Q3 commercial/multifamily lending volumes when compared to the Q3 of 2020. Led by an 866% year-over-year increase in the dollar volume of loans for hotel properties, and a 317% increase for retail properties.

In a statement prepared to accompany the survey, Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research said, “Overall commercial real estate borrowing and lending are running at high levels, but there continues to be an important differentiation by property type. Borrowing hit an all-time quarterly high during the third quarter, driven by strong or improving market fundamentals, higher property values, low interest rates, and solid mortgage performance. Borrowing and lending backed by industrial and multifamily properties are each running at a record annual pace. And while year-to-date office and retail lending are each up significantly from last year, both remain below 2019 levels.”