The level of commercial/multifamily mortgage debt outstanding grew by 2.8 percent in the second quarter, reaching $2.76 trillion, according to the Mortgage Bankers Association analysis of the Federal Reserve Board Flow of Funds data. At the end of second-quarter 2006, the Federal Reserve recorded $2.76 trillion in commercial/multifamily mortgage debt outstanding, an increase of $76.6 billion from fourth-quarter 2005. Multifamily mortgage debt outstanding grew to $703 billion at the end of the second quarter, up by $9.4 billion, or 1.3 percent, from the first quarter. "The commercial/multifamily mortgage market has become a staple of the finance industry," said Doug Duncan, MBA's chief economist and senior vice president of Research and Business Development. "Borrowers continue to find an array of products geared at meeting their diverse needs, and investors continue to find fixed-income products with a strong underpinning and increasingly liquid markets. With mortgage bankers' origi...
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