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Commercial, Multifamily Originations Grow in Q3

Multifamily debt originations continue to fuel growth in the real estate credit space.

By Mario Marroquin | December 26, 2024 at 08:38 AM

Commercial and multifamily mortgage debt outstanding grew by $47.7 billion in the third quarter of 2024, bringing the total to $4.75 trillion, according to the Mortgage Bankers Association’s (MBA) latest report. Multifamily mortgage debt led the way with a $29.8 billion increase, or 1.4%, continuing its dominance as the sector with the most growth this year.

MBA found that life insurance companies were the largest contributors to the expansion of the real estate credit market, increasing their holdings in commercial and multifamily mortgage debt by $21.2 billion, or 2.9%. Agency and government-sponsored enterprise (GSE) portfolios, along with mortgage-backed securities (MBS), followed with an increase of $12.3 billion, or 1.2%. Meanwhile, CMBS, CDO, and other asset-backed securities (ABS) grew by $9.6 billion, while banks and thrifts added $6.1 billion, or 0.3%, to their portfolios.

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