{"id":1004704488,"date":"2024-02-27T02:12:16","date_gmt":"2024-02-27T10:12:16","guid":{"rendered":"https:\/\/www.commercialsearch.com\/news\/?p=1004704488"},"modified":"2024-03-01T02:16:05","modified_gmt":"2024-03-01T10:16:05","slug":"20-percent-of-commercial-and-multifamily-mortgage-balances-mature-in-2024","status":"publish","type":"post","link":"https:\/\/www.commercialsearch.com\/news\/20-percent-of-commercial-and-multifamily-mortgage-balances-mature-in-2024\/","title":{"rendered":"20 Percent of Commercial and Multifamily Mortgage Balances Mature in 2024"},"content":{"rendered":"\n<figure data-wp-context=\"{&quot;imageId&quot;:&quot;6a109aff8da01&quot;}\" data-wp-interactive=\"core\/image\" class=\"wp-block-image size-large wp-lightbox-container\"><img loading=\"lazy\" decoding=\"async\" width=\"800\" height=\"600\" data-attachment-id=\"1004704489\" data-permalink=\"https:\/\/www.commercialsearch.com\/news\/20-percent-of-commercial-and-multifamily-mortgage-balances-mature-in-2024\/0324_cpe_mba\/\" data-orig-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg\" data-orig-size=\"800,600\" data-comments-opened=\"0\" data-image-meta=\"{&quot;aperture&quot;:&quot;0&quot;,&quot;credit&quot;:&quot;&quot;,&quot;camera&quot;:&quot;&quot;,&quot;caption&quot;:&quot;&quot;,&quot;created_timestamp&quot;:&quot;0&quot;,&quot;copyright&quot;:&quot;&quot;,&quot;focal_length&quot;:&quot;0&quot;,&quot;iso&quot;:&quot;0&quot;,&quot;shutter_speed&quot;:&quot;0&quot;,&quot;title&quot;:&quot;&quot;,&quot;orientation&quot;:&quot;0&quot;}\" data-image-title=\"0324_CPE_MBA\" data-image-description=\"&lt;p&gt;Source: Mortgage Bankers Association&lt;\/p&gt;\n\" data-image-caption=\"&lt;p&gt;Source: Mortgage Bankers Association&lt;\/p&gt;\n\" data-large-file=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg?w=800\" data-wp-class--hide=\"state.isContentHidden\" data-wp-class--show=\"state.isContentVisible\" data-wp-init=\"callbacks.setButtonStyles\" data-wp-on-async--click=\"actions.showLightbox\" data-wp-on-async--load=\"callbacks.setButtonStyles\" data-wp-on-async-window--resize=\"callbacks.setButtonStyles\" src=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg?w=800\" alt=\"Source: Mortgage Bankers Association\" class=\"wp-image-1004704489\" srcset=\"https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg 800w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg?resize=300,225 300w, https:\/\/www.commercialsearch.com\/news\/wp-content\/uploads\/sites\/46\/2024\/03\/0324_CPE_MBA.jpg?resize=768,576 768w\" sizes=\"auto, (max-width: 800px) 100vw, 800px\" \/><button\n\t\t\tclass=\"lightbox-trigger\"\n\t\t\ttype=\"button\"\n\t\t\taria-haspopup=\"dialog\"\n\t\t\taria-label=\"Enlarge\"\n\t\t\tdata-wp-init=\"callbacks.initTriggerButton\"\n\t\t\tdata-wp-on-async--click=\"actions.showLightbox\"\n\t\t\tdata-wp-style--right=\"state.imageButtonRight\"\n\t\t\tdata-wp-style--top=\"state.imageButtonTop\"\n\t\t>\n\t\t\t<svg xmlns=\"http:\/\/www.w3.org\/2000\/svg\" width=\"12\" height=\"12\" fill=\"none\" viewBox=\"0 0 12 12\">\n\t\t\t\t<path fill=\"#fff\" d=\"M2 0a2 2 0 0 0-2 2v2h1.5V2a.5.5 0 0 1 .5-.5h2V0H2Zm2 10.5H2a.5.5 0 0 1-.5-.5V8H0v2a2 2 0 0 0 2 2h2v-1.5ZM8 12v-1.5h2a.5.5 0 0 0 .5-.5V8H12v2a2 2 0 0 1-2 2H8Zm2-12a2 2 0 0 1 2 2v2h-1.5V2a.5.5 0 0 0-.5-.5H8V0h2Z\" \/>\n\t\t\t<\/svg>\n\t\t<\/button><figcaption class=\"wp-element-caption\">Source: Mortgage Bankers Association<\/figcaption><\/figure>\n\n\n\n<p>Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2024, a 28 percent increase from the $729 billion that matured in 2023, according to the Mortgage Bankers Association\u2019s 2023 Commercial Real Estate Survey of Loan Maturity Volumes, released <a href=\"https:\/\/www.mba.org\/news-and-research\/newsroom\/news\/2024\/02\/12\/20-percent-of-commercial-and-multifamily-mortgage-balances-mature-in-2024\">earlier this month<\/a>.<\/p>\n\n\n\n<p>The lack of transaction and other activity last year, coupled with built-in extension options and lender and servicer flexibility, has meant that many loans that were set to mature in 2023 have been extended or otherwise modified and will now mature in 2024, 2026, 2028 or in other coming years. These extensions and modifications have pushed the amount of CRE mortgages maturing this year from $659 billion to $929 billion.<\/p>\n\n\n\n<p>Commercial mortgages tend to be relatively long-lived, spreading maturities out over several years. Volatility and uncertainty around interest rates, a lack of clarity on property values, and questions about some property fundamentals have suppressed sales and financing transactions.&nbsp; This year\u2019s maturities, coupled with greater clarity in those and other areas, should begin to break the logjam in the markets.<\/p>\n\n\n\n<p>The loan maturities vary significantly by investor and property type groups. Just $28 billion (3 percent) of the outstanding balance of multifamily and health care mortgages held or guaranteed by Fannie Mae, Freddie Mac, FHA and Ginnie Mae will mature in 2024.&nbsp; Life insurance companies will see $59 billion (8 percent) of their outstanding mortgage balances mature in 2024.&nbsp; By contrast, $441 billion (25 percent) of the outstanding balance of mortgages held by depositories, $234 billion (31 percent) in CMBS, CLOs or other ABS and $168 billion (36 percent) of the mortgages held by credit companies, in warehouse or by other lenders will mature in 2024.<\/p>\n\n\n\n<p>By property type, 12 percent of mortgages backed by multifamily properties will mature in 2024, as will 17 percent of those backed by retail and 18 percent for healthcare properties.&nbsp; Among loans backed by office properties, 25 percent will come due in 2024, as will 27 percent of industrial loans and 38 percent of hotel\/motel loans.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Twenty percent ($929 billion) of the $4.7 trillion of outstanding commercial mortgages held by lenders and investors will mature in 2024.<\/p>\n","protected":false},"author":1097,"featured_media":1004704489,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[37753],"tags":[],"class_list":["post-1004704488","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-research-center-finance"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v23.4 (Yoast SEO v24.6) - 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