The amount of total commercial and multifamily mortgage debt outstanding increased 1.9%, or by $70 billion, during the third quarter, led almost entirely by a large increase in the portfolio holdings of banks and other depositories, according to a report from the Mortgage Bankers Association.

Jamie Woodwell, MBA's head of commercial real estate research, said in prepared remarks that the increase in bank holdings "was the largest quarterly increase of any individual capital source in the history of MBA's series."

For most other capital sources, Woodwell said their holdings of commercial and multifamily mortgages grew at a slower rate than during the second quarter of 2022.