Anyone who has wondered if it is worthwhile to ask a bank for a CRE loan probably has good reason to doubt. A new report from the Mortgage Bankers Association (MBA) predicts a 46% slump from $816 billion in 2022 to $442 billion this year in commercial and multifamily mortgage borrowing and lending.
This updated baseline forecast reveals that multifamily lending alone is likely to plummet 41% to $285 billion this year – compared to $480 billion in 2022.
The outlook for 2024 could be rosier, however. The MBA forecast is for commercial real estate lending to hit $559 billion then, with multifamily grabbing $339 billion of that total.
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