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Q3 Brings Good News for Commercial & Multifamily Mortgages

Mortgage News > Q3 Brings Good News for Commercial & Multifamily Mortgages
Date: 11/04/2020    Q3 Brings Good News for Commercial & Multifamily Mortgages

The number of new commercial and multifamily mortgage loans increased 12% in the 2020 third quarter from the previous quarter, according to the Mortgage Bankers Association, the first steps toward recovery from effects of the pandemic. The monthly gain was helped by a 67% increase in industrial property mortgages. Originations are still down 47% over the same period last year, however, led by a yearly 94% decrease in hotel mortgages and an 83% decline in retail properties loans.

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