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MBA Cuts 2023 Projections for Commercial Lending

The Mortgage Bankers Association has slightly lowered its forecast for total commercial real estate production in 2023, to $848 billion from a projection of $872 billion in July. So reports Credit Union Times.

MBAAt the same time, the MBA modestly lifted its 2022 full-year forecast to $766 billion from July’s projection of $733 billion, though that’s still down 14% from last year (and less than the $1 trillion it forecast for this year in January).

“Should the economy enter a recession, which has become considerably more likely, commercial and multifamily borrowing and lending would likely be further constrained,” Jamie Woodwell, MBA’s vice president for commercial real estate research, said in a statement

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