Three of the groups that most heavily invest in commercial and multifamily mortgages increased their outstanding balance of such debt in the first quarter of 2012 according to data released this morning by the Mortgage Bankers Association (MBA). The level of all commercial/multifamily debt increased by $8.1 billion or 0.3 percent to $2.373 trillion compared to a total in the fourth quarter of 2011 of $2.365 trillion. The multifamily portion of that debt now totals $818 billion, up $6.9 billion or 0.8 percent from the previous quarter total of $811.4 billion.
Banks and thrifts saw the largest dollar increase in commercial/multifamily holdings during the first quarter, $13.5 billion or 1.7 percent. Agency and GSE portfolios and MBS went up by $6.8 billion or 2 percent. The third sector, life insurance companies, increased $3.8 billion or 1.2 percent. The largest drop was in the holdings of commercial mortgage-backed securities (CMBS), collateralized debt obligations (CDO), and other asset-backed securities (ABS) which went down $11.7 billion or 2 percent. On a percentage basis the largest increase was 5.3 percent by other insurance companies and the largest percentage drop was in the household sector, down 11 percent.
Read more...MBA: Investors Increase Commercial, Multifamily Mortgage Holdings via Mortgage News Daily
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