Members of the Media:
WASHINGTON, D.C. – April 2, 2013 – (RealEstateRama) — The Mortgage Bankers Association (MBA) released its fourth quarter 2012 Commercial Real Estate/Multifamily Finance Quarterly Data Book.
To download a free copy, click here.
The report includes a summary of major trends and detailed charts and tables that provide current and historical information on the economy and commercial/multifamily real estate markets. Among the findings covered in the fourth quarter Data Book:
– The U.S. economy, as measured by the real gross domestic product, grew by 0.4 percent during the quarter.
– Office vacancy rates fell from 17.2 percent in the third quarter to 17.1 in the fourth (down from a cycle high of 17.6 percent). Retail vacancies dropped from 10.8 percent to 10.7 percent (down from a cycle high of 11.1 percent). The multifamily vacancy rate fell from 4.7 percent in the third quarter to 4.5 percent in the fourth (down from a cycle high 8.0 percent).
– Commercial and multifamily mortgage originations were 49 percent higher than during the third quarter of 2012 and 49 percent higher than during the fourth quarter of 2011.
– Commercial and multifamily mortgage debt outstanding increased by $21.8 billion, or 0.9 percent, in the fourth quarter of 2012, as all four major investor groups increased their holdings.
– The fourth quarter saw the largest increase in commercial and multifamily mortgage debt outstanding since 2008. Bank-held commercial mortgages increased by the largest amount since 2008. The balance of loans held in CMBS rose by the most since 2007 and the balances of loans held by life companies and held or guaranteed by Fannie Mae, Freddie Mac and FHA continued their multi-year increases.
– Delinquency rates continued to decline for commercial and multifamily mortgage loans in the fourth quarter of 2012.
MBA’s Quarterly Data Book compiles the most up-to-date information on topics of interest to commercial/multifamily real estate finance industry professionals, including trends in the economy, property sales, originations, delinquencies and mortgage debt outstanding.
The Mortgage Bankers Association (MBA) is the national association representing the real estate finance industry, an industry that employs more than 280,000 people in virtually every community in the country. Headquartered in Washington, D.C., the association works to ensure the continued strength of the nation’s residential and commercial real estate markets; to expand homeownership and extend access to affordable housing to all Americans. MBA promotes fair and ethical lending practices and fosters professional excellence among real estate finance employees through a wide range of educational programs and a variety of publications. Its membership of over 2,200 companies includes all elements of real estate finance: mortgage companies, mortgage brokers, commercial banks, thrifts, Wall Street conduits, life insurance companies and others in the mortgage lending field. For additional information, visit MBA’s Web site: www.mortgagebankers.org.