The Mortgage Bankers Association expects commercial and multifamily mortgage bankers to close $486 billion in loans backed by income-producing properties in 2021, an 11 percent increase from 2020’s estimated $440 billion, according to its latest forecast.
The Mortgage Bankers Association says $222.5 billion of the $2.3 trillion (10 percent) in outstanding commercial and multifamily mortgages held by non-bank lenders and investors will mature in 2021, a 36 percent increase from the $163.2 billion that matured in 2020.
Rates rose to a three-month high last week, and mortgage applications dropped, the Mortgage Bankers Association reported this morning in its Weekly Mortgage Applications Survey for the week ending February 5.
The U.S. office sector faces a “murky” future after a tumultuous 2020, said Yardi Matrix, Santa Barbara, Calif.
Mortgage credit availability increased in January, the Mortgage Bankers Association reported this morning.