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U.S. commercial-property loan originations rose to the highest since 2007 in the third quarter as banks, insurers and government-backed finance companies increased lending, the Mortgage Bankers Association said today.
New loans for commercial and multifamily mortgages climbed 98 percent from a year earlier and 10 percent from the second quarter, according to an index compiled by the Washington-based association. The group’s gauge reached 138, the highest since the last three months of 2007, when it was 275.
