Commercial, multi-family loans dip

Loan originations for commercial and multi-family projects dipped in the third quarter of this year, according to a new report from the Mortgage Bankers Association.

These loans – some of the largest in the mortgage industry – were down 4 percent from the same period one year earlier, the bankers association said.

In a statement, Jamie Woodwell, the association’s senior director of commercial/multi-family research, cited the current credit crunch as the main culprit for the decline.

You can read more about the dip here. Needless to say, it’s just one more piece of evidence that the current residential real estate slump is a deep one, and one that’s not going to ease any time soon.