U.S. Multifamily Lending Up 8 Percent Last Year

According to the Mortgage Bankers Association, U.S. multifamily lending was up 8 percent year over year in 2016, with nearly three thousand different multifamily lenders providing a total of $269.2 billion in new mortgages for apartment buildings with five or more units.

“Last year was another record year for multifamily mortgage lending,” said Jamie Woodwell, MBA’s Vice President of Commercial Real Estate Research.  “In 2016, strong property performance, rising property values and low mortgage rates all meant greater access to mortgage credit for apartment property owners.  The $269 billion in lending that took place shows the breadth of the market – with loans ranging in size from tens of thousands of dollars to hundreds of millions, and the largest lender closing more than 7,500 loans while 61 percent of active lenders closed five or fewer loans.

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