CRE mortgage originations, for both commercial and multifamily properties, in 2024 Q2 were up 3% year-over-year and 27% over the first quarter, according to the Mortgage Bankers Association's Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations. Measured year-to-date, the growth was 2%.
Last year in the same quarter, Q1 to Q2 growth was 23%, while the year-over-year rise from 2022 was -53%. The year-to-date comparison to 2022 was -54%.
"Borrowing and lending backed by commercial real estate remained subdued in the second quarter," Jamie Woodwell, MBA's head of commercial real estate research, said in prepared remarks. "Most capital sources remain ready, willing and able to lend on properties that can support a loan. Driven by growth in the single-asset single-borrower markets, originations for CMBS grew significantly during the quarter."
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