Commercial/multifamily mortgage debt erases recession declines
- Mark Holan[1]
- Staff Reporter- Washington Business Journal
- This email address is being protected from spambots. You need JavaScript enabled to view it.[2] | Other[3]
The level of outstanding commercial and multifamily mortgage debt increased by $41.2 billion, or 1.7 percent, in the fourth quarter of 2013, ending the year by erasing the declines caused by the recession, the Mortgage Bankers Association reported[4] Wednesday.
Life insurance companies, commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities all increased their holdings.
On a year-over-year basis, the amount of mortgage debt outstanding at the end of 2013 was $90.5 billion higher than at the end of 2012, an increase of 3.7 percent.
"Simply put, it was a strong year," Jamie Woodwell[5], the MBA's vice president of commercial real estate research, said in a statement.
Mark Holan covers the economy and money — banking, finance, private equity, corporate accountability and professional services.
References
- ^ Mark Holan (feeds.bizjournals.com)
- ^ This email address is being protected from spambots. You need JavaScript enabled to view it. (feeds.bizjournals.com)
- ^ Other (twitter.com)
- ^ Mortgage Bankers Association reported (feeds.bizjournals.com)
- ^ Jamie Woodwell (feeds.bizjournals.com)