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MBA Sees 5% Drop in Commercial Mortgage Volume in 2023

The Mortgage Bankers Association has projected that total commercial and multifamily borrowing and lending will drop 5% to $700 billion this year. So reports Dodd Frank Update.

MBAThat’s largely due to expectations of further Federal Reserve rate hikes in the first half of this year. The MBA forecasts that borrowing and lending will bounce to $887 billion in 2024.

“Uncertainty and volatility around the paths of the economy, interest rates, and property valuations will likely continue to cause instability for commercial real estate markets well into this year," Jamie Woodwell, MBA’s head of commercial real estate research, said in a statement.

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