Commercial and multifamily mortgage debt outstanding reached the $2.5 trillion mark in the third quarter, representing a 3.4% increase of $83.8 billion from that of the previous quarter, according to a Mortgage Bankers Association analysis of flow-of-funds data from the Federal Reserve Board.Considering debt backed by multifamily properties alone, there was a 1.5% rise, to $641 billion, in debt outstanding at the end of the third quarter. "The commercial/multifamily mortgage market continues to be buoyed by modest long-term interest rates, improving property fundamentals, and strong equity flows," said Doug Duncan, the MBA's chief economist. Commercial banks hold $1.1 trillion of the debt outstanding, representing 43% of the total (commercial banks also sometimes report commercial and industrial loans that are backed by the borrower's business income). CMBS pools hold 20% of the total, followed by life insurance companies with 10%, and savings institutions with 8%. Fannie Mae, Freddie Mac, and Ginnie Mae hold another 8% of the debt outstanding. The MBA can be found online at http://www.mortgagebankers.org.
-
The lender recorded a $59 million net loss in the fourth quarter, an 83% improvement from its third quarter performance.
6h ago -
Initial analyses of Home Mortgage Disclosure Act data show UWM ahead in 2023 loan numbers and dollar volume, but Rocket's market share still looks competitive.
6h ago -
Last year, the Raleigh, N.C.-based Integrated called off a deal to sell itself to MVB Financial after bank stocks took a hit in the aftermath of the regional bank failures. Capital hopes to expand its government-guaranteed lending with the transaction.
7h ago -
The pending end of the program comes as over half of U.S. states have already ceased accepting new applicants for federal aid aimed to help struggling households with mortgage payments.
7h ago -
But the 30-year fixed rate mortgage is still near 7%, and that remains the overhang on the housing market, Freddie Mac said.
8h ago -
Mortgage payments rose 10% year-over-year to an all-time high for March, Redfin said.
9h ago