MBA Sees Flat Growth in ’18 for Commercial Mortgages
WASHINGTON, DC—Two mortgage banking sectors, one organization, one slow-growth economy, two divergent outlooks for the coming year. The Mortgage Bankers Association said last week that it expects commercial and multifamily originations to be essentially flat in 2018. On the residential side, though, MBA is expecting a year-over-year increase in purchase mortgage originations, even as refinancing activity is expected to slide.
Flat growth doesn’t equate to a decline in volume, though. MBA’s latest prediction of a 5% annual increase in commercial and multifamily originations this year, to $515 billion, comes after the association’s projection in June of a slight decline for 2017 volume.