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Commercial/Multifamily Debt Surges; Home Price Reality Check; Rates in a Rut

Commercial/Multifamily Debt Surges; Home Price Reality Check; Rates in a Rut

Multifamily and commercial mortgage debt grew by $44.3 billion in the first quarter of 2018, a quarter-over-quarter increase of 1.4 percent, and the largest gain since before the Great Recession. The total debt at the end of the quarter was $3.21 trillion with the multifamily portion increasing by 19.3 billion or 1.5 percent. It was the third straight quarter that overall debt grew, the first time that has occurred since 2007. The gains were reported by the Mortgage Bankers Association (MBA) which puts holders of the debt into five major categories. The largest group consists of banks and thrifts, which hold 40 percent of the total, $1.3 trillion. The second group is agency and government sponsored enterprise (GSE) portfolios and mortgage-backed securities at 19 percent or $617 billion. Life
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