Total commercial and multifamily mortgage debt outstanding increased in the third quarter, in a quarterly comparison, according to the Mortgage Bankers Association.
Commercial and multifamily debt rose 1.4% to $2.76 trillion at the end of the third quarter, compared to the second quarter. Multifamily mortgage debt rose 1.9% to $1.02 trillion.
The rise in both categories was due to "increases in the dollar amount of loans held in bank portfolios," Jamie Woodwell, vice president for commercial real estate research at the MBA, said in a Tuesday news release.
Commercial banks held the largest share of commercial and multifamily mortgages, with 38% of the total. Commercial mortgage-backed securities, collateralized debt obligations and other asset-backed securities held the second-highest amount, with 19%.
Federal agencies and government-sponsored enterprises had the third-highest at 16%. Life insurance companies held the fourth-highest at 14%.
