Commercial Mortgage Debt
Commercial Mortgage Debt Falls in First Quarter, Bankers Report
Source: nreionline.com
"The level of commercial mortgage debt outstanding dropped 0.9% in the first quarter to $3.31 trillion, according to the Mortgage Bankers Association (MBA), which analyzed Federal Reserve Board data.
Declines in commercial mortgages held in commercial mortgage-backed securities (CMBS) drove the decrease, along with construction loans held by banks and thrifts, the association reported.
The debt outstanding recorded by the Federal Reserve in the first quarter represents $31 billion less than the amount outstanding in the fourth quarter of 2009. However, multifamily mortgage debt outstanding rose to $852 billion, an increase of $3 billion, or 0.4% more than in the fourth quarter of 2009."