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Outstanding Commercial Mortgage Debt Declines

This week the Mortgage Bankers Associated reported that the level of commercial and multifamily mortgage debt outstanding had contracted in the second quarter to $3.47 trillion, a decrease of $9.9 billion or 0.3% from the first quarter 2009. The decline was due to the fact that the amount of loans paid down and paid off exceeded the amount of new mortgages taken out, according Jamie Woodwell, vice president of commercial real estate research for MBA.   However, taken alone, multifamily mortgage debt outstanding actually grew to $914 billion, an increase ...

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