Commercial Mortgage Debt Falls in First Quarter, Bankers Report

The level of commercial mortgage debt outstanding dropped 0.9% in the first quarter to $3.31 trillion, according to the Mortgage Bankers Association (MBA), which analyzed Federal Reserve Board data.

Declines in commercial mortgages held in commercial mortgage-backed securities (CMBS) drove the decrease, along with construction loans held by banks and thrifts, the association reported.

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