Commercial Debt Levels Grow
Author: Diana Heeb Bivona
The Mortgage Bankers Association (MBA)) released its findings regarding mortgage debt levels. The level of commercial/multifamily mortgage debt outstanding grew by 2.5% in the first quarter, exceeding $3 trillion for the first time. This was an increase of $72.4 billion that the Federal Reserve reported for the fourth quarter 2006.
Commercial banks continue to hold the largest share of the mortgages, with more than $1.3 trillion, or 43% of the total. Real estate construction and development loans grew by $16.8 billion, but this was the smallest quarterly increase for these loans since the second quarter of 2004.