The level of commercial/multifamily mortgage debt outstanding surpassed $2.5 trillion in the third quarter, growing 3.4 percent over the past three months, according to the Mortgage Bankers Association analysis of Federal Reserve Board Flow of Funds data. At the end of the third quarter 2005, $2.5 trillion in commercial/multifamily mortgage debt outstanding was recorded by the Federal Reserve, an increase of $83.8 billion (a new record for a quarterly increase) or 3.4 percent from the second quarter. Multifamily mortgage debt outstanding stood at $641 billion at the end of the third quarter, an increase of $9 billion, or 1.5 percent, from the second quarter. "The commercial/multifamily mortgage market continues to be buoyed by modest long-term interest rates, improving property fundamentals and strong equity flows," said Doug Duncan, MBA's chief economist and senior vice president of Research and Business Development. "The result is a quarter with record originations, record increa...
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