MBA: Commercial/Multifamily Borrowing Increased 36% in the Third Quarter of 2025

Commercial and multifamily mortgage loan originations were 36% higher in the third quarter of 2025 compared to a year earlier, and increased 18% from the second quarter of 2025, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

Multifamily Lending Increased 17% to $289 Billion in 2024, MBA Finds

In 2024, 2,463 different multifamily lenders originated a total of $288.7 billion in new mortgages for multifamily properties with five or more units, according to the Mortgage Bankers Association’s (MBA) annual report of the multifamily lending market.

MBA: Commercial/Multifamily Borrowing Increases 42% in the First Quarter of 2025

Commercial and multifamily mortgage loan originations were 42% higher in the first quarter of 2025 compared to a year earlier, and decreased 40% from the fourth quarter of 2024, according to the Mortgage Bankers Association’s (MBA) Quarterly Survey of Commercial/Multifamily Mortgage Bankers Originations.

Total Commercial Real Estate Borrowing and Lending Increased 16% in 2024

Total commercial real estate mortgage borrowing and lending is estimated to have totaled $498 billion in 2024, a 16% increase from the $429 billion in 2023, and a 39% decrease from $816 billion in 2022, according to MBA’s 2024 Commercial Real Estate/Multifamily Finance Annual Origination Volume Summation.