Outstanding multifamily mortgage debt rose 2.4%/$23.6B last quarter, exceeding $1 trillion for the first time ever. In the same quarter, outstanding commercial/multifamily mortgage debt increased $38.5B, a 1.4% increase from Q1’15. This brings the total outstanding commercial/multifamily debt up to $2.72 trillion.
MBA’s Vice President for Commercial Real Estate Research Jamie Woodwell—who we’ve talked to before—says rising property values are supporting increased levels of debt, with outstanding multifamily mortgage debt growing at 10% per year.
Three of the four major investor groups have increased their holdings, with commercial banks continuing to hold the largest share, or $1 trillion/37%, of total mortgages. [HW]
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