Kansas City Mortgage Lending Drops - Commercial Lending Drops 54%
According to the Mortgage Bankers Association, mortgage lending for commercial and multi-family housing has dropped. Compared to 2nd quarter numbers, commercial loan lending has dropped 12%, but the surprising number persentage decline from last years 3rd quarter numbers. Compared to last years 3rd quarter numbers, commercial loans have dropped 54%.
Company downsizing, lack of lending sources and tight lending standards maybe the cause for the huge declines in all types of commercial loans.
For more information on the Commercial Lending Drops, go to the Kansas City Business Journal.
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