Agency Lending Seen Holding Steady

Commercial Mortgage Alert, Jan. 6, 2023 (subscription)
Fannie Mae and Freddie Mac are poised to play an outsize role in the multifamily lending market this year as banks hunker down and debt funds struggle to access capital markets. Agency lenders expect both entities’ 2023 production will match last year’s levels, even as many anticipate that the overall lending market will shrink amid a continued slowdown in investment-sales activity. The Mortgage Bankers Association’s latest forecast projects a 10.7% drop in overall multifamily lending volume this year, down to $393 billion from an estimated $439 billion in 2022.
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