Commercial and multifamily mortgage loan originations barely budged overall during the first quarter when compared to the same period last year, according to the Mortgage Bankers Association.
The MBA's quarterly commercial/multifamily originations index came in at 182, unchanged from a year earlier. But certain segments of the market saw better growth than others, according to the MBA’s report released Thursday.
Loans for retail properties increased 44% to an origination volume index of 180. Office loan originations went up 18%, and multifamily and hotel originations grew in volume by 2% and 3%, respectively.
But these increases failed to outweigh the declines seen elsewhere. Industrial loan originations dropped 56% in volume from last year to a value of 265. And health care origination value plunged 57% to 44.
The average quarterly value for the index set in 2001 is 100.
