{"id":1004049909,"date":"2012-11-14T07:21:36","date_gmt":"2012-11-14T15:21:36","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004049909"},"modified":"2022-12-03T22:54:38","modified_gmt":"2022-12-04T06:54:38","slug":"economy-watch-commercial-mortgage-originations-dip-in-3q-small-businesses-more-optimistic","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/economy-watch-commercial-mortgage-originations-dip-in-3q-small-businesses-more-optimistic\/","title":{"rendered":"Economy Watch: Commercial Mortgage Originations Dip in 3Q; Small Businesses More Optimistic"},"content":{"rendered":"<p><em>By Dees Stribling, Contributing Editor<\/em><\/p>\n<p>Commercial and multi-family mortgage origination volumes dropped by 7 percent during the third quarter of 2012 compared with the same quarter in 2011, according to the Mortgage Bankers Association on Tuesday. Quarter-over-quarter, the drop was even more pronounced: 17 percent lower in third quarter than during the second quarter, according to the MBA\u2019s Quarterly Survey of Commercial\/Multifamily Mortgage Bankers Originations.<\/p>\n<p>The year-over-year decrease in lending volume was driven by decreases in originations for retail and office properties, noted the MBA. The decrease included a 35 percent decline in the dollar volume of loans for retail properties, and a 24 percent decrease for office properties. On the other hand, there was a 4 percent increase for hotel properties; a 19 percent increase for industrial properties; a 19 percent increase in healthcare property loans; and a whopping 30 percent increase in multi-family loans.<\/p>\n<p>Among investor types, the dollar volume of loans for life insurance companies decreased by 32 percent compared with last year\u2019s third quarter. There was an 8 percent increase for commercial bank portfolios and a 30 percent increase for the GSEs. There was no change in volume of loans originated for conduits for CMBS.<\/p>\n<p>\u201cCommercial and multi-family mortgage borrowing slowed in the third quarter,\u201d Jamie Woodwell, MBA\u2019s vice president of CRE research, said in a statement. \u201cEven though low interest rates continue to make borrowing extremely attractive, a moderate pace of commercial property sales transactions and a continued drop in the volume of commercial mortgages maturing limited the overall amount of commercial mortgage loans originated.\u201d<\/p>\n<p><strong>Small Businesses More Cheerful, But Not Much\u00a0<\/strong><\/p>\n<p>The National Federation of Independent Business reported on Tuesday that its Small Business Optimism Index rose 0.3 points in October to 93.1. The uptick didn\u2019t seem to indicate a dramatic shift in small business owner sentiment over the course of the month, which was still before the election. Now that that\u2019s over, conceivably small business owners could be relieved by the certainty; or conversely, anxious about the fiscal cliff.<\/p>\n<p>One indicator that rose slightly in October in the NFIB\u2019s estimation was the frequency of reported capital outlays in the past six months, up 3 points to 54 percent. But weak sales are still the reported No. 1 business problem for 22 percent of owners surveyed.<\/p>\n<p>October was another weak job creation month among small businesses, though better than September because of a lessening of terminations, which has the effect of raising the net jobs number. According to the October survey, owners stopped releasing workers. The average change in employment per firm rose to just 0.02 workers\u2014essentially zero.<\/p>\n<p>Wall Street wandered around on Tuesday and ended the day down. The Dow Jones Industrial Average lost 58.9 points, or 0.46 percent, while the S&amp;P 500 and the Nasdaq were down 0.4 percent and 0.7 percent, respectively.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Commercial and multi-family mortgage origination volumes dropped by 7 percent during the third quarter of 2012 compared with the same quarter in 2011. The National Federation of Independent Business reported on Tuesday that its Small Business Optimism Index rose 0.3 points in October to 93.1.<\/p>\n","protected":false},"author":952,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21742],"tags":[],"class_list":["post-1004049909","post","type-post","status-publish","format-standard","hentry","category-latest"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v28.0 (Yoast SEO v28.0) - https:\/\/yoast.com\/product\/yoast-seo-premium-wordpress\/ -->\n<title>Economy Watch: Commercial Mortgage Originations Dip in 3Q; Small Businesses More Optimistic - Commercial Property Executive<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/www.commercialsearch.com\/news\/economy-watch-commercial-mortgage-originations-dip-in-3q-small-businesses-more-optimistic\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Economy Watch: Commercial Mortgage Originations Dip in 3Q; Small Businesses More Optimistic\" \/>\n<meta property=\"og:description\" content=\"Commercial and multi-family mortgage origination volumes dropped by 7 percent during the third quarter of 2012 compared with the same quarter in 2011. 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