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Nov. 22, 2004 / 2:29 PM

Commercial mortgage loans going strong

WASHINGTON, Nov. 18 (UPI) -- Mortgage loans for commercial properties rose 15 percent in the third quarter from a year ago, the Mortgage Bankers Association said Thursday.

The MBA reported commercial mortgage bankers originated $34.1 billion for the July to September period, which was a 2.3 percent rise from the second quarter.

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"Continued demand for commercial mortgages ... is setting up 2004 to break 2003's record origination levels," said the MBA's chief economist Doug Duncan.

"And while modestly rising interest rates could take some wind out of the sails, stabilizing market conditions and low delinquency rates will likely keep capital flowing to commercial and multifamily properties," he added.

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