There was an increase in the number of mortgage originations during the second quarter of 2022, according to the Mortgage Bankers Association. "Commercial and multifamily mortgage loan originations increased 19 percent in the second quarter of 2022 compared to the same period last year," according to the group.
"'Borrowing and lending backed by commercial real estate set another quarterly record from April through June, although the pace of increase slowed from the first quarter,' said Jamie Woodwell, MBA's vice president of commercial real estate research."
The major drivers of the originations were in retail (up by 108% year over year), hotel (37% increase), and multifamily (24% growth). Industrial, which has been one of the mainstays of CRE activity, saw only a 3% increase. Office was down by 11% and healthcare dropped by 3%.
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