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U.S. commercial mortgage market

Statistics report on commercial mortgage market in the United States

This report presents a range of statistics and facts on commercial real estate mortgage market in the United States. The report examines the most important market indicators, such as the value of mortgage debt outstanding, commercial mortgage-backed securities issuance, and delinquency rates. Additionally, it provides context about the performance of the different commercial real estate sectors: offices, retail, industrial and logistics, and multifamily.

Table of contents

Overview

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  • Basic Statistic Mortgage debt outstanding on commercial property in the U.S. 2001-2025
  • Premium Statistic Share of commercial real estate debt in the U.S. 2023, by lender
  • Premium Statistic Value of commercial real estate mortgage debt in the U.S. 2023, by lender type
  • Premium Statistic Value of commercial property debt held by different investor types in the U.S. 2022
  • Premium Statistic Most popular property types among real estate lenders in the U.S. 2022-2023
  • Premium Statistic Biggest commercial real estate debt challenges in the U.S. 2026
  • Premium Statistic 10-year government bond yield in the U.S. 1990-2024
  • Premium Statistic Monthly inflation rate and Federal Reserve interest rate in the U.S. 2018-2026
  • Premium Statistic 10-year U.S. Treasury note rates 2019-2025 with forecast 2026

Performance of the commercial real estate market

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  • Premium Statistic Commercial real estate cap rates in the U.S. 2012-2023 with a forecast until 2026
  • Premium Statistic Vacancy rate of commercial real estate in the U.S. 2021-2025, by property type
  • Premium Statistic Office real estate rental growth in the U.S. 2022, with a forecast until 2027
  • Premium Statistic Office real estate net absorption in the U.S. 2022, with a forecast until 2027
  • Premium Statistic Annual retail real estate rental growth in the U.S. 2021-2024
  • Premium Statistic Retail real estate net absorption in the U.S. 2022, with a forecast until 2027
  • Premium Statistic Office real estate repeat sales index in the U.S. 1996-2025
  • Premium Statistic Retail real estate repeat sales index in the U.S. 1996-2024, by quarter
  • Premium Statistic Industrial and logistics real estate repeat sales index in the U.S. 1996-2025
  • Premium Statistic Hospitality real estate repeat sales index in the U.S. 1998-2025
  • Premium Statistic National NCREIF Property Index annual return in the U.S. 2025, by property type
  • Premium Statistic National NCREIF Property Index returns in the U.S. 2007-2025

Commercial mortgage-backed securities (CMBS)

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  • Premium Statistic Breakdown of CMBS outstanding in the U.S. 2023, by property type
  • Premium Statistic Volume of CMBS debt outstanding in the leading metros in the U.S. 2023
  • Premium Statistic Value of CMBS originations in the U.S. 2000-2025
  • Premium Statistic Value of CMBS originations in the U.S. 2013-2022, by type
  • Premium Statistic Commercial/multifamily mortgage originations index U.S. 2020-2025, by property type
  • Premium Statistic Commercial/multifamily mortgage originations index U.S. 2020-2023, by institution

Loans performance

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  • Premium Statistic Maturing commercial real estate debt at risk in the U.S. 2023, by property type
  • Basic Statistic Delinquency rates of U.S. real estate loans at commercial banks 2000-2026, by quarter
  • Premium Statistic Commercial real estate delinquency rate in the U.S. 2020-2025, by asset class
  • Premium Statistic Metros with the highest share of distressed office real estate debt in the U.S 2023
  • Premium Statistic Metros with the highest share of distressed hotel real estate debt in the U.S 2023
  • Premium Statistic Metros with highest share of distressed multifamily real estate debt in the U.S 2023
  • Premium Statistic Metros with the highest share of distressed retail real estate debt in the U.S 2023
  • Premium Statistic Metros with highest share of distressed industrial real estate debt in the U.S 2023

Market leaders

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  • Premium Statistic Commercial mortgage servicing firms with the highest amount serviced in the U.S. 2024
  • Premium Statistic Commercial mortgage servicing firms with the most debt held in the U.S. 2022
  • Premium Statistic Market share of the largest CMBS underwriters in the U.S. 1H 2023
  • Premium Statistic Market share of the largest CMBS lenders in the U.S. 1H 2023
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