Commercial and multifamily mortgage debt outstanding rose to $2.64 trillion at the end of 2005, a 14.2% rise over 2004 levels.For the fourth quarter alone, commercial and multifamily debt rose by $103 billion, or 4.1%, which is also a new record, the Mortgage Bankers Association has reported based on data provided by the Federal Reserve Board. Outstanding multifamily mortgage debt alone stood at $674 billion at the end of 2005, representing a 10.2% increase for the year. And for the fourth quarter, multifamily debt was up $19 billion, or 2.9%. Doug Duncan, the MBA's chief economist, said the trends "show every sign of continuing." Commercial banks hold the largest share of the debt, at $1.1 trillion, or 43%, of the total (including commercial loans that are backed by property pledged by businesses, rather than income-producing properties). Commercial mortgage-backed securities pools hold $553 billion, or 21%, of the debt. Considering just multifamily mortgage debt outstanding, Fannie Mae, Freddie Mac, and Ginnie Mae together hold $195 billion, or 29%, the MBA said. Commercial banks hold $140 billion of the multifamily mortgage debt, 21% of the total.
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House Republicans overcame internal divisions to narrowly pass President Trump's tax and spending package Thursday afternoon. The measure would cut the Consumer Financial Protection Bureau's funding level, among other provisions.
July 3 -
A labor shortage is costing the market tens of thousands of new homes per year, and tariff uncertainty is adding thousands of dollars in expenses per unit.
July 3 -
The pace of revenue growth slowed toward the end of 2024, with the trend continuing into the first three months of this year, NAHB reported.
July 3 -
Capital One closed the deal to buy the credit card provider in May and as part of the review process, decided to exit its home equity lending business.
July 3 -
The 10 basis point decline in the 30-year fixed mortgage was the most since March and the first time rates are below 6.7% since April, Freddie Mac said.
July 3 -
The firm, now going by Fairway Home Mortgage, said the change is a representation of plans to create a "connected ecosystem."
July 3