NEW HIGH FOR COMMERCIAL/MULTIFAMILY MORTGAGE DEBT OUTSTANDING

Today MBA released its fourth quarter commercial/multifamily mortgage debt outstanding report.

It shows that the level of commercial/multifamily mortgage debt outstanding increased by $41.2 billion, or 1.7 percent, in the fourth quarter of 2013, as all four major investor groups increased their holdings. On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2013 was $90.5 billion higher than at the end of 2012, an increase of 3.7 percent.

Multifamily mortgage debt outstanding rose to $895 billion, an increase of $11.5 billion or 1.3 percent from the third quarter, and $36.6 billion or 4.3 percent from the fourth quarter of 2012.

During the fourth quarter, commercial and multifamily mortgage debt outstanding reached a new high, erasing the declines caused by the recession. Over the course of 2013, banks increased their holdings of commercial and multifamily mortgages by seven percent, and their balance of just multifamily mortgages by more than 12 percent. Commercial mortgage-backed securities’ holdings increased for the first time since 2007, and life insurance companies and the GSEs and FHA each increased their holdings (or guarantees) by more than three percent. It was a strong year.

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