In Q3 2024, outstanding commercial/multifamily mortgage debt rose by $47.7 billion (1.0%) to $4.75 trillion, with multifamily mortgage debt increasing by $29.8 billion (1.4%) to $2.12 trillion. Life insurance companies led the increase, accounting for 44% of the quarterly rise. Commercial banks hold the largest share of the market at $1.8 trillion (38%). Notably, life insurance firms saw a 2.9% increase in their holdings, while private pension funds experienced an 8.8% decline.
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