Loan originations for commercial and multifamily properties rose in the third quarter, the Mortgage Bankers Association reported, backing up the group's projection from last month.
Originations increased 12% in the third quarter, compared to a year earlier, the MBA said. Originations rose 3% on a quarterly basis.
Loans for retail properties posted the highest growth rate, increasing 39% from a year earlier. Office property originations rose 17%, multifamily properties rose 11% and industrial properties rose 10%.
Originations for health care properties fell 30% and hotel loans fell 9%.
Commercial bank loans rose 93% and life insurance company loans rose 18%, while commercial mortgage-backed securities fell 8% and government-sponsored enterprise loans fell 3%.
The MBA last month projected commercial and multifamily mortgage originations to
