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Year-Over-Year Increase in Commercial Mortgage Originations

Commercial and multifamily mortgage originations rose by 9% year-over-year in the first quarter, according to data from the Mortgage Bankers Association (MBA). First quarter originations fell 27% from the fourth quarter of 2016, which is in line with seasonality of the market according to the organization.

The year-over-year rise was fueled by year-over-year increases in originations in three sectors of the industry: 40% for industrial properties, 22% for health care properties and 14% for multifamily properties. There was also a 2% upswing for office properties. Declines were seen in the number of originations of commercial mortgages for hotel properties and retail properties.

“Commercial real estate borrowing and lending started 2017 on much the same footing it ended 2016,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.  “Multifamily properties remain the key force behind overall originations trends, and the GSEs continue to drive multifamily originations.  Matching broader investment themes, financing backed by industrial properties also picked up, while retail declined.”

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