The Mortgage Bankers Association said Thursday that it expects commercial and multifamily mortgage originations will increase year-over-year in 2016 by 6% to $485 billion.
The multifamily portion should total $225 billion, virtually unchanged from this year's expected total.
Overall, the MBA predicts that total commercial and multifamily mortgage debt outstanding will add up to $2.8 trillion by the end of 2016, which would represent a 1.8% increase year-over-year.
"Borrowing and lending in commercial and multifamily real estate markets is strong," said Jamie Woodwell, MBA's vice president of commercial real estate research, in a news release. "Interest rates that have stayed lower longer than most anticipated and continued growth in property incomes and values are all pushing mortgage origination levels higher."
