Bolstered by record-low interest rates, multifamily mortgage originations spiked 45% in the first quarter from year-ago levels, according to the Mortgage Bankers Association.
The rise in multifamily lending helped boost overall commercial and multifamily activity 36% from a year earlier, the MBA found in its quarterly survey.
From the fourth quarter, overall originations are down 12%, reflecting the industry’s usual push to finalize deals before the end of the year and subsequent dropoffs in first-quarter numbers. Multifamily lending fell 22% from the fourth quarter.
Read more...Multifamily lending accelerates 45% in 1Q | HousingWire
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