Retail, Office Fuel Q3 Commercial Lending Uptick
Multifamily and especially commercial mortgages saw a strong Q3, the MBA reports, jumping 12% over the same time last year (and up 3% from last quarter).
Retail and office property originations led the overall upturn in lending volumes, with retail and office seeing 39% and 17% increases, respectively. There was an 11% uptick for multifamily properties along with a 10% boost for industrial properties.
The report also shows the dollar volume of loans originated for commercial bank portfolios surged by a whopping 93% compared to Q3 of last year.