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by CareyBot

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 a...