Multifamily mortgage originations grew 49% over last year during the fourth quarter as commercial originations overall soared above 2011 levels, the Mortgage Bankers Association said in a new report Monday.
The jump in originations occurred as low interest rates prompted more borrowers to finance multifamily properties and as strength in the commercial and multifamily mortgage segment fueled investor appetite, said Jamie Woodwell, vice president of commercial real estate research at the MBA.
In just the fourth quarter of 2012, commercial and multifamily mortgage originations were up 49% from the third quarter, with hotel property originations soaring 99% quarter-to-quarter, while multifamily properties experienced a 48% increase in originations between the two quarters.
Read more...MBA: Multifamily originations grew 49% in 4Q | HousingWire
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