Commercial and multifamily mortgage originations jumped 89% higher during the first quarter on a year-to-year basis, according to the Mortgage Bankers Association quarterly survey.
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Originations of this type were down 25% compared to the fourth quarter of 2010 but the fact that the last quarter of the year typically produces extraordinarily large volumes likely accounted for this.
Jamie Woodwell, MBA’s vice president of commercial real estate research, said in a report from the MBA that volumes in the first three months of 2011 were the highest seen in any first quarter since 2002 and almost double 2010’s first-quarter volume.
