Commercial and multifamily mortgage borrowing and lending will fall a predicted $766 billion this year, a decrease of 14% year-over-year, according to the Mortgage Bankers Association's updated baseline forecast released this week. The association's baseline forecast released in July had predicted total financing to fall by 18% to $733 billion.
And while multifamily lending alone is predicted to drop to $455 billion this year, MBA says borrowing and lending will likely bounce back next year to $848 billion in total commercial real estate lending and $451 billion in multifamily lending.
However, MBA brass are quick to note that its CREF Forecast is based on a baseline economic forecast, "but the outlook is particularly uncertain" at the moment.
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