Bankers: Commercial, multifamily loans down 47%, but up from Q2
Joe Bousquin / Nov. 10, 2020 / Construction Dive
Commercial and multifamily loan originations were down 47% during the third quarter of 2020 compared to a year ago, even though they rebounded 12% from the nadir of the impacts of the coronavirus pandemic, according to new numbers released by the Mortgage Bankers Association.
Some sectors were hit harder than others, with hotel properties seeing a 94% year-over-year drop in lending volumes compared to a year ago. Relative bright spots included industrial properties, which decreased by just 23% amid continued activity for data center development, and a 31% decrease for multifamily properties. READ MORE