VANCOUVER, BRITISH COLUMBIA--(Marketwired - May 16, 2014) - Commercial mortgage originations and outstanding mortgages both increased in 2013 according to a Canadian Commercial Mortgage Market Survey recently released by CMLS Financial. Commercial mortgage originations were $39B, and CMLS Financial estimated the Canadian commercial mortgage market at approximately $185B. This represents an increase of 8% in total outstanding balance and an 18% increase in production compared to the previous year. By comparison and according to the Mortgage Bankers Association of America, outstanding balances grew 5% and origination increased 15% in the United States in 2013.
"Mortgage lending data is challenging to assemble without the support of the industry," says Mark Achtemichuk, VP and Managing Director at CMLS Financial. "We feel privileged to have their confidence to help provide this valuable intelligence."
The full results of the survey, now in its fourth year, are only made available to participating lenders and include additional analysis on geographic and asset type concentrations, market share by lender type, renewal success, and industry sentiments for 2014. Survey highlights are available in the May 2014 Commercial Mortgage Commentary from CMLS Financial.
About CMLS Financial
CMLS Financial is Canada's only dedicated provider of commercial mortgage market intelligence. On a quarterly basis, CMLS Financial publishes a commentary on the Canadian commercial mortgage market with specific analysis of the conventional market, the CMHC insured market, and the Canadian CMBS market. Founded in 1974, CMLS Financial is celebrating 40 years as Canada's Mortgage Company™. For more information, visit www.cmls.ca.