Multifamily Lending Up 90 Percent Over Last Year
First quarter 2011 commercial and multifamily mortgage originations were 89 percent higher than during the same period last year, according to the Mortgage Bankers Association.
A decrease from fourth quarter 2010 reflects the industrys usual push to finalize deals before the end of the year, and subsequent drop-offs in first quarter numbers.
The pace of commercial and multifamily mortgage lending continued to increase in the first quarter of this year, said Jamie Woodwell, MBAs Vice President of Commercial Real Estate Research. Commercial/multifamily mortgage origination volumes for the first three months of 2011 were the highest of any first quarter since 2002, and were nearly double the volume seen during the first quarter of 2010.
The 89 percent overall increase in commercial/multifamily lending activity during the first quarter of 2011 over the same period in 2010 includes a 104 percent increase in loans for multifamily properties.
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